401K and IRA Limits

The maximum pre-tax amount one can contribute each year to 401(k), 403(b), and 457 plans as determined by the IRS:


         Year        Age<50        Age>50
        2005        $14,000          $18,000
        2006        $15,000          $20,000

After 2006, the maximum pre-tax contribution limit is indexed in $500 incrememnts for inflation.

Traditional and Roth IRA Limits:


         Year        Age<50        Age>50
        2005        $4,000            $4,500
        2006        $4,000            $5,000
        2007        $4,000            $5,000
        2008        $5,000            $6,000

The contribution limits presented above for traditional and Roth IRA are scheduled to expire Dec 31, 2010 unless legislation is enacted to extend them.

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