April 2, 2009

How much is maximum contribution for retirement plans?

A A asked:

currently I am contributing to my 401k, can I also contribute to Roth IRA, and what is maximum contribution limit for retirement plan?

Wayne

Permalink Print

Comments on How much is maximum contribution for retirement plans?

April 2, 2009

Bean counter @ 5:12 pm

Keira

Depends on your income.

April 5, 2009

newjerseyguy @ 6:43 pm

Piper

See
See

April 8, 2009

Ron @ 6:48 pm

Weston

As long as you aren’t earning a high income to phase out the ability to contribute to a Roth, you can contribute $4,000 per year. If you are 50 or older, you can contribute an additional $1,000 per year for catch-up.

I’m pretty sure the earnings level phase out is somewhere around six figures if you are single and about $160k per year if you are married filing taxes jointly. It’s adjusted for inflation each year, so the levels will increase.

Ron, ChFC

April 12, 2009

$so fresh so clean$ @ 2:02 am

Cale

The maximum for a 401 (k) plan is $15,000, and the most for a Roth IRA is $4,000 for this tax year which ends April 15, 2008. You can contribute $5,000 only if you’re age 50 and over.

Andy @ 11:52 am

Alfredo

I think they changed 401k limits to 15,500 for this year.