Larkin Hoffman Daly & Lindgren Ltd.
1500 Wells Fargo Plaza
7900 Xerxes Avenue South
Minneapolis, MN 55431
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Retirement Plan Limits for 2009
November 10, 2008
by Mary L. Komornicka

The IRS has just released the new Cost-of-Living Adjustments for retirement plans.

 
2009
2008
401(k) & 403(b) Deferrals
$16,500
$15,500
Catch-up Limit (over 50)
$5,500
$5,000
Defined Contribution (max contribution)
$49,000
$46,000
Defined Benefit (max benefit)
$195,000
$185,000
Maximum Compensation
$245,000
$230,000
Highly Compensated Employee
$110,000
$105,000
Social Security Taxable Wage Base
$106,800
$102,000

These limits are effective January 1, 2009 for plans that operate on a calendar year basis. (Effective dates for other plans differ based on the limit and the plan year.)

  
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