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Recommendations: 1
The following information about changes to retirement contributions has been copied out of the "Bottom Line Personal" newsletter.
IRA Contributions Year.....................Contribution 2001.........................$2000 2002-2004................$3000 2005-2007................$4000 2008 & beyond.........$5000
Those age 50 or older are allowed to make annual 'catch-up' contributions of $500 from 2002-2005...and of $1000 in 2006 and after.
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401k Contributions Year......................Contribution 2002.......................$11,000 2003.......................$12,000 2004.......................$13,000 2005.......................$14,000 2006 & beyond.......$15,000
Again, those age 50 or older are allowed to make 'catch-up' contributions.
Year.....................Contribution 2002.......................$1,000 2003.......................$2,000 2004.......................$3,000 2005.......................$4,000 2006 & beyond.......$5,000
Happy Saving. Caat
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