IRAs and Other Retirement Plans | |
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403(b) Plans The limit on elective deferrals and annual additions have increased. Modified AGI Limit for Retirement Savings Contributions Credit You may be able to claim the retirement savings contributions credit. Modified AGI Limit for Roth IRA Contributions Your Roth IRA contribution limit is reduced (phased out) in some situations. Modified AGI Limit for Traditional IRA Contributions Modified AGI Limit for Traditional IRA Contributions Nonqualified Deferred Compensation Plans There are new regulations on reporting requirements for amounts deferred under a nonqualified deferred compensation plan. Qualified Plans Limits on contributions and benefits, compensation limits, and elective deferrals (401(k) plans). Rollover of Airline Payments If you are a qualified airline employee, you may contribute, to a Roth IRA, any portion of an airline payment you receive from a commercial airline carrier involved in certain bankruptcy proceedings. Rollover of Exxon Valdez Settlement Income If you are a qualified taxpayer and you received qualified settlement income in connection with the Exxon Valdez litigation, you can contribute all or part of the amount received to an eligible retirement plan. Roth Contribution Limit Your contribution limit for 2009. SIMPLE Plan Increase in Limit on Salary Reduction Contributions Under a SIMPLE Plan Temporary Waiver of Required Minimum Distributions (RMDs) for 2009 For 2009, you are not required to take an RMD from your IRA or most defined contribution retirement plans. Traditional IRA Contribution and Deduction Limit The contribution limit to your traditional IRA for 2009 |
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Page Last Reviewed or Updated: November 26, 2009