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
2 years ago
Best Answer
957 points
CUWu answered 2 years 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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