IRS Contribution Limits
2009 and 2010 Traditional/Roth IRA Contribution Limits
| Traditional & Roth IRAs | |||
| Plan Name | Standard Limit | Catch-up Limit (Age 50 and older ) | |
| Traditional | $5,000 | $6,000 | |
| Roth* | $5,000 | $6,000 | |
| *MAGI Limits: 2009 Single: $105,000 - $120,000 Married Filing Joint: $166,000 - 176,000 2010 Single: $105,000 - $120,000 Married Filing Joint: $167,000 - 177,000 |
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2009 and 2010 SEP IRA Contribution Limits
| SEP (Simplified Employee Pension) IRA Limits | |||
| Year | Max Dollar Allocation | Max Considered Compensation | |
| 2009 | $49,000 | $245,000 | |
| 2010 | $49,000 | $245,000 | |
| The maximum amount that can be contributed to a simplified pension plan (SEP) plan is 25% of an employee's compensation, which is capped at a maximum as indicated above. | |||
2009 and 2010 SIMPLE IRA Contribution Limits
| Simple IRA | ||
| Year | Standard Limit | Catch-up Limit (Age 50 and older ) |
| 2009 | $11,500 | $14,000 |
| 2010 | $11,500 | $14,000 |
| Employers are generally required to match each employee's salary reduction contributions, on a dollar-for-dollar basis, up to 3% of the employee's compensation. | ||
2009 and 2010 401(k) and Solo(k) Contribution Limits
| 401(k) & Solo(k) Plans : Employee Salary Deferral Limits | ||
| Year | Standard Limit | Catch-up Limit (Age 50 and older) |
| 2009 | $16,500 | $22,000 |
| 2010 | $16,500 | $22,000 |
| Employer can contribute up to $32,500 in 2009. Employer can contribute up to $32,500 in 2010. |
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2009 and 2010 Coverdell Education Savings Account (CESA) Contribution Limits
| CESA (Coverdell Educational Savings Account) | |
| Standard Limit (up to age 18) |
MAGI Limits to qualify for account |
| $2,000 | Single: $95,000 - $110,000 Married Filing Joint: $190,000 - $220,000 |
2010 Health Savings Account Contribution Limits
| HSA (Health Savings Account) | |||
| High Deductible Health Plan Coverage |
Standard Limit (up to age 18) |
Catch-up Limit (Age 55 - 65, 65 and older if you qualify) |
|
| Individual (Self Only) | $3,050 | $4,050 | |
| Family | $6,150 | $7,150 | |
| Health Plan Requirements | |||
| High Deductible Health Plan Coverage |
Minimum Deductible of at Least: |
Annual Out-of-Pocket Expense Limit | |
| Individual (Self Only) | $ 1,200 | $5,950 | |
| Family | $2, 400 | $11,900 | |
2009 Health Savings Account Contribution Limits
| HSA (Health Savings Account) | |||
| High Deductible Health Plan Coverage |
Standard Limit (up to age 18) |
Catch-up Limit (Age 55 - 65, 65 and older if you qualify) |
|
| Individual (Self Only) | $3,000 | $4,000 | |
| Family | $5,950 | $6,950 | |
| Health Plan Requirements | |||
| High Deductible Health Plan Coverage |
Minimum Deductible of at Least: |
Annual Out-of-Pocket Expense Limit | |
| Individual (Self Only) | $ 1,150 | $5,800 | |
| Family | $2, 300 | $11,600 | |
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