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For both regular and Roth IRAs - catch up salary deferral contributions - starting in 2002, individuals age 50 or older will be able to make additional "catch-up" contributions over and above the limit stated above. In 2002, the catch-up limit is $500 (until 2006, when it reaches $1,000).

In 2006, the maximum IRA contribution permitted for an eligible individual age 50 or older will be $6,000.

Note the above will change if Congress changes their collective minds again!
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