Answers.com > Wiki Answers > Categories > Business & Finance > Personal Finance > Retirement Planning > 401k & 403b Plans > What is the 401 K catch up allowance for 2008?

What is the 401 K catch up allowance for 2008?

In: 401k & 403b Plans [Edit categories]

Answer:

For IRAs, those 50 years of age and older can contribute $6000, while those under 50 only $5000.

For 401k, those 50 and older can contribute $20,500, while those under 50 only $15,500. In 2009, both numbers will be indexed to inflation and increase in $500 increments.

First answer by ID1145598325. Last edit by ID1145598325. Question popularity: 1 [recommend question].

[report abuse]

Can you answer these 401k & 403b Plans questions?

	Can a Keogh plan be rolled over into an IRA plan?	Answer it!
	How do you contact plan administrator?	Answer it!
	When did required minimum distributions begin?	Answer it!
	Did fidelity investments take over prudential retirement accounts?	Answer it!
	What if you leave the company what happens to the pension plan?	Answer it!

Relevant answers:

What is 401 K or 401 B?
Both are retirement savings plans in US ONLY. Check related links if you want to read more.
What does the k in 401 k stand for?
401k is a section of the US Tax Code which describes a particular retirement plan. Section 401a describes a different plan. The letter is a subsection of chapter 401 of the Tax Code.
Can a employer make you sign up for a 401 K?
no one not even an employer can make you sign up for anything 401K,any type ofinsurance,benefits,care,not even dental,vision,health its actually up to the individual if anyone wants anything or not...
Do you have 401 k?
Do u know 401 k ???
Can you get out of a 401 k loan?
All you need to do is pay it off