Robert Valentine, Ca. Insurance License# 0C23496, is a Registered Investment Advisor Representative with Financial and Retirement Management, a Registered Investment Advisor and a
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IRA Contribution Limits
|
Year
|
AGE 49 & BELOW
|
AGE 50 & ABOVE
|
2002-2004
|
$3,000
|
$3,500
|
2005
|
$4,000
|
$4,500
|
2006-2007
|
$4,000
|
$5,000
|
2008
|
$5,000
|
$6,000
|
2009
|
$5,000
|
$6,000
|
2010
|
$5,000
|
$6,000
|
|
Simple IRA Limit
|
Year
|
AGE 49 & BELOW
|
AGE 50 & ABOVE
|
2005
|
$10,000
|
$12,000
|
2006
|
$10,000
|
$12,500
|
2007
|
$10,500
|
$13,000
|
2008
|
$10,500
|
$13,000
|
2009
|
$11,500
|
|
2010
|
$11,500
|
$14,000
|
|
403(b) Contribution Limits
|
Year
|
AGE 49 & BELOW
|
AGE 50 & ABOVE
|
2005
|
$14,000
|
$18,000
|
2006
|
$15,000
|
$20,000
|
2007
|
$15,500
|
$20,500
|
2008
|
$15,500
|
$20,500
|
2009
|
$16,500
|
$22,000
|
2010
|
$16,500
|
$22,000
|
|
Roth IRA Phase-Out Range & Limits
|
Year
|
Single
|
Married Filing Jointly
|
2005
|
$95,000 - $110,000
|
$150,000 - $160,000
|
2006
|
$95,000 - $110,000
|
$150,000 - $160,000
|
2007
|
$99,000 - $114,000
|
$156,000 - $166,000
|
2008
|
$101,000 - $116,000
|
$159,000 - $169,000
|
2009
|
$105,000 - $120,000
|
$166,000 - $176,000
|
2010
|
$105,000 - $120,000
*(Rollover limit removal)
|
$167,000 - $177,000
*(Rollover limit removal)
|
You can contribute to a Roth IRA if your income falls below the Roth limits. You're
allowed a prorated contribution if your income falls within the "phase-out" range. If your
income exceeds the income range you won't qualify for a Roth IRA contribution. *Though
the 2010 Roth IRA conversion limit is removed, phase out limits still apply for contribution.
|
|
SEP IRA Limit
|
Year
|
Max Dollar
Allocation
|
Max Considered
Compensation
|
2005
|
$42,000
|
$210,000
|
2006
|
$44,000
|
$220,000
|
2007
|
$45,000
|
$225,000
|
2008
|
$46,000
|
$230,000
|
2009
|
|
|
2010
|
|
|
The maximum amount that can be contributed to a simplified employee pension (SEP)
plan is 25% of an employee's compensation, which is capped at a maximum, per above.
|
|
Retirement Plan / Qualified Plan Limits
|
|
|
Roth IRA Phase-Out Range & Limits
|
|
|
Defined Contribution Plans Limits
|
|
|
|
403(b) Contribution Limits
|
|
|
|
Section 457 Plan Limits
|
Year
|
AGE 49 & BELOW
|
AGE 50 & ABOVE
|
2005
|
$14,000
|
$18,000
|
2006
|
$15,000
|
$20,000
|
2007
|
$15,500
|
$20,500
|
2008
|
$15,500
|
$20,500
|
2009
|
$16,500
|
$22,000
|
2010
|
$16,500
|
$22,000
|
|
401k Contribution Limits
|
Year
|
AGE 49 & BELOW
|
AGE 50 & ABOVE
|
2005
|
$14,000
|
$18,000
|
2006
|
$15,000
|
$20,000
|
2007
|
$15,500
|
$20,500
|
2008
|
$15,500
|
$20,500
|
2009
|
$16,500
|
$22,000
|
2010
|
|
|
|
Defined Contribution Plans, basic limits
|
Year
|
Max Dollar
Allocation
|
Max Considered
Compensation
|
2005
|
$42,000
|
$210,000
|
2006
|
$44,000
|
$220,000
|
2007
|
$45,000
|
$225,000
|
2008
|
$46,000
|
$230,000
|
2009
|
|
|
2010
|
|
|
The maximum amount that can be contributed to a defined contribution plan is 25% of
an employee's compensation, which is capped at a maximum, per above.
|
|
