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The IRS released cost-of-living dollar limits for Tax Year
2008
as shown below.
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| The annual compensation limit |
$230,000 |
| The Social Security Wage Base |
$102.000 |
| The Defined Benefit 415 limit |
$185,000 |
| The Defined Contribution 415 limit (annual addition limit) |
$46,000 |
| The dollar limit for Highly Compensated status |
$105,000 |
| The deduction limit for SEP is $44,000 or 25% of
compensation whichever is less |
25% |
| The 401(k) maximum deferral
limit. |
$15,500 |
| The 401(k) catch-up deferral limit
for individuals age 50 and greater. |
$5,000 |
| Regular IRA Contribution limit |
$5,000 |
| Regular IRA Contribution for individuals age 50
and over. |
$6,000 |
| Roth IRA Contribution limit |
$5,000 |
| Roth IRA Contribution for individuals age 50
and over. |
$6,000 |
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