2009 Contribution Limits

[kyounge1956]

If I read this link correctly, the contribution limit on my 457 plan for next year is $16,500. So far I haven't found the maximum over-50 catchup contribution, or either of the Roth limits. Has anyone seen or heard anything about them?

 

[Urchina]

This was posted recently over at the Bogleheads forum:

Bogleheads :: View topic - 2009 Contribution Limits Announced Yet?

I haven't read the underlying IRS document yet, but it's linked in the thread.

Short answer appears to be: $22000 total ($16500 base and $5500 catch-up for those 50 and over)

No idea about the Roths.

 

[CCdaCE]

Roth contribution limitations are supposed to be $5500 or $6500 catchup (50 or over) in '09.

... according to this site, and this site, anyway.

-CC

 

[JustCurious]

Roth contribution limitations are supposed to be $5500 or $6500 catchup (50 or over) in '09.

... according to this site, and this site, anyway.

-CC

The Roth contributions limits for 2009 are unchanged, and remain at $5,000 and $6,000. The first site you linked is just plain wrong. As far as the second site you linked, that is the Wikipedia page on Roth IRAs, and it does not say that the limit in 2009 is $5,500. It says "Starting in 2009, contribution limits will increase in $500 increments based on inflation." You missed the "based on inflation" part.

 

[kyounge1956]

This was posted recently over at the Bogleheads forum:

Bogleheads :: View topic - 2009 Contribution Limits Announced Yet?

I haven't read the underlying IRS document yet, but it's linked in the thread.

Short answer appears to be: $22000 total ($16500 base and $5500 catch-up for those 50 and over)

No idea about the Roths.

The link isn't working for me. I keep getting "server not responding" messages. Do you recall anything of the name of the document I could use to search for it on irs.gov?

 

[Ronnieboy]

The Roth contributions limits for 2009 are unchanged, and remain at $5,000 and $6,000. The first site you linked is just plain wrong. As far as the second site you linked, that is the Wikipedia page on Roth IRAs, and it does not say that the limit in 2009 is $5,500. It says "Starting in 2009, contribution limits will increase in $500 increments based on inflation." You missed the "based on inflation" part.

So 2009 Roth limits haven't been decided yet or there wasn't any inflation?

 

[Urchina]

The link isn't working for me. I keep getting "server not responding" messages. Do you recall anything of the name of the document I could use to search for it on irs.gov?

Here's the link to the document:

IRS Announces Pension Plan Limitations for 2009

 

[kyounge1956]

Here's the link to the document:

IRS Announces Pension Plan Limitations for 2009

Thanks. It looks like the Roth Contribution limits have not been announced yet. I searched for Roth and the only match was for the maximum income you can have and still put contributions into a Roth IRA, not the maximum amount that can be contributed.

 

[Tadpole]

Maximum Benefits and Contributions Limits for 2004 - 2009

 

[JustCurious]

So 2009 Roth limits haven't been decided yet or there wasn't any inflation?

Neither. They have been decided, and there was inflation.

 

[W2R]

Here's a link from Vanguard:

Vanguard - Roth IRA - Who can contribute and how much

Apparently the limits are $5000, $6000 if over 50, for 2009.

 

[JustCurious]

That's what I wrote yesterday.

 

[CCdaCE]

Hrm, amazing how much bad info. is out there. Sorry for the bad links and/or misinterpretation.

-CC

 

[W2R]

Hrm, amazing how much bad info. is out there. Sorry for the bad links and/or misinterpretation.

-CC

Well, until I find it on the IRS site I won't feel 100% sure. Meanwhile all sources are at least a little suspect.