IRS announces 2010 contribution limits

October 23, 2009 by Christian Schappel

Posted in: In this week's e-newsletter - benefits, Latest News & Views, Money, Pay and benefits

The cost-of-living changes to retirement plans were just announced by the Internal Revenue Service.

Contribution limits for defined-benefit and defined-contribution plans will not change for 2010.

Limits are adjusted each year using a formula based on inflation.

And because recent inflation has been minimal, these limits will remain:

$16,500 for 401(k), 403(b) and 457 plans (plus an additional $5,500 for those 50 or older by the end of 2009)
$11,500 for SIMPLE plans (plus an additional $2,500 for those 50 or older by the end of 2007)
$5,000 for traditional and ROTH IRAs (plus an additional $1,000 for those 50 or older by the end of 2009)
$49,000 for defined-contribution KEOGH plans, and
$195,000 for defined-benefit pension plans.

Tags: 401(k), 403(b), defined benefit, defined-contribution, internal revenue service, ROTH

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One Response to “IRS announces 2010 contribution limits”

RAY Says:
January 14th, 2010 at 1:27 pm
Thanks for the write up this is really some great stuff here!

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