You can contribute up to $4K for 2005 up until April 17. Then $5k a year until you are ineligible.

The contribution limit is $4000 for the OP in 2006 and 2007...then $5K for 2008. I'm not sure where you are getting your "$5k a year until you are ineligible" number from...

Maybe you are thining about your own situation -- given that you said you are about to retire, you likely are 50+. For those 50+, the contribution limit is $5K in 2006 and 2007...then $6K in 2008...

Acme