IRS has announced the 2009 Pension plan limits.
Accordingly,
- 401(k) or 403(b) Deferral Limit – $16,500 and Catch-Up Contribution Limit(Age 50 or older) – $5,500
- Simple IRA Account Deferral – $11,500 and Catch-Up Contribution Limit(Age 50 or older) – $2,500
- Maximum annual contribution to 401 (k) or SEP IRA – $49,000
- Maximum Compensation Limit – $245,000