As a followup to my earlier article about Traditional and Roth IRA contribution limits, I wanted to point out that the contribution limits for 401(k), 403(b), and 457(b) accounts are changing for 2009. While the limit on elective deferrals remained steady at $15,500 from 2007 to 2008, it’s rising to $16,500 in 2009. Individuals that will be 50 or older by the end of 2009 can make an additional $5,500 in contributions (up from $5,000 in 2008), bringing their total to $22,000. On top of this, the aggregate limit (also referred to as the 415(c) limit), which applies to employee plus employer contributions, is increasing from $46,000 to $49,000.
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