Don’t Forget to Fund Your Retirement Savings Plans by April 15!

Plan Type

IRC Selection

2008 Max

Defined Benefit

415(b)(1)(A)

$185,000

Defined Contribution

415(c)(1)(A)

$46,000

Elective Deferrals

401(k) and 403(B) Plans

402(g)(1)

$15,500

Elective Deferrals

457(B) and 457(C) Plans

457(b)(2) and

457 (c)(1)

$15,500

Catch-up Contributions

401(k), 403(B) and 457 Plans

414(v)(2)(B)(i)

$6,000

SIMPLE Retirement Accounts

401(k)(11)(B) and

408(p)(2)(B)

$10,500

SIMPLE Catch-Up Contributions

414(v)(2)(B)(ii)

$2,500

This article originally appeared in The Business Owner Journal, the periodical of choice for owners of small and midsize private businesses. All rights reserved, D.L. Perkins LLC. © 2010.

This publication is intended to provide general information on the subject matters covered. It is sold and distributed with the understanding that neither the publisher nor any distributor or advertiser is engaged in providing legal, tax, insurance, investment or other professional advice. The advice of a qualified professional should be sought before any reader applies a concept presented herein to his or her particular situation or business.

D.L. Perkins, LLC is solely responsible for this content.


Leave a Reply

You must be logged in to post a comment.