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As we enter 2010, we feel it is important to update everyone on the latest retirement plan contribution limits. Below are the contribution limits for 2009 & 2010.
| IRA Contribution Limits (2009 & 2010): | |
| Traditional and Roth | $ 5,000 |
| Catch-Up (taxpayers over 50 are eligible) | $ 1,000 |
| Roth IRAs - AGI Phase-Out Range for Contributions (2009): | |
| Married Filing Jointly | $166,000 - $176,000 ($167,000 - $177,000 in 2010) |
| Single | $105,000 - $120,000 |
| *Roth IRA conversion adjusted gross income limits removed in 2010 (phase out limits still apply to contributions). Please contact us for more information. | |
| Traditional IRA Deductibility Rules: Please contact us for the latest information. | |
| Qualified Plans (2009 & 2010): | |
| Maximum elective deferral to retirement plans e.g., 401(k), 403(b) | $ 16,500 |
| Maximum elective deferral to SIMPLE plans | $ 11,500 |
| Limit on annual additions to SEP plans | $ 49,000 |
| Catch-up contributions are allowed for taxpayers over age 50 - please contact us for more details. | |
| * Please remember you can make 2009 IRA contributions up to April 15, 2010. | |
IMPORTANT CONSUMER INFORMATION: A broker-dealer, investment advisor, BD agent or IA representative may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if they are excluded or exempted from the state's broker-dealer, investment advisor, BD agent or IA representative requirements, as the case may be; and Follow-up, individualized responses to consumers in a particular state by broker-dealer, investment advisor, BD agent or IA representative that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's broker-dealer, investment adviser, BD agent or IA representative requirements, or pursuant to an applicable state exemption or exclusion or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative, a consumer should contact his or her state securities law administrator.