Personal Finance Question
What are the maximum annual contributions for IRA'S and Plan 457's for the year 2008 under 50 years of age?
Asked by Will in
Personal Finance
one year ago
Best Answer
872 points
CUWu answered one year ago …
Hey Will, I believe the annual contribution limits for a traditional IRA is $4,000 this year and will bump up to $5,000 in 2008. As for Section 457 plans I believe the maximum contribution is $15,500. However, if you're over the age of 50 you can make "catch up" contributions to both of these ($1,000 for traditional IRAs and $5,000 for 457 plans). Hope that helped :)
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