IRAs and Other Retirement Plans | |
 | |
|
403(b) Plans The limit on elective deferrals and annual additions have increased. Military Death Gratuities and Servicemembers' Group Life Insurance (SGLI) Payments If you received a military death gratuity or SGLI payment, you may contribute all or part of the amount received to your Roth IRA or to a Coverdell education savings account (ESA). Modified AGI Limit for Retirement Savings Credit Contributions Increased You may be able to claim the retirement savings contributions credit. Modified AGI Limit for Roth IRA Contributions Increased Your Roth IRA contribution limit is reduced (phased out) in some situations. Modified AGI Limit for Traditional IRA Contributions Increased Modified AGI Limit for Traditional IRA Contributions Increased Nonqualified Deferred Compensation Plans There are new regulations on reporting requirements for amounts deferred under a nonqualified deferred compensation plan. Qualified Plans Limits on contributions and benefits, compensation limits, and elective deferrals (401(k) plans). Qualified Reservist Distributions Eligibility to receive qualified reservist distributions has been extended to individuals ordered or called to active duty after 2007. Rollover of Airline Payments If you are a qualified airline employee, you may contribute, to a Roth IRA, any portion of an airline payment you receive from a commercial airline carrier involved in certain bankruptcy proceedings. Rollover of Exxon Valdez Settlement Income If you are a qualified taxpayer and you received qualified settlement income in connection with the Exxon Valdez litigation, you can contribute all or part of the amount received to an eligible retirement plan. Rollovers From Other Retirement Plans to Roth IRAs The rollover rules have changed. Read on for more details... Roth Contribution Limit Your contribution limit for 2008 SIMPLE Plan Increase in Limit on Salary Reduction Contributions Under a SIMPLE Plan Simplified Employee Pensions (SEPs) Limits have increased for 2008. Tax-Free Withdrawal of Economic Stimulus Payments You may choose to withdraw an economic stimulus payment that was directly deposited to your traditional or Roth IRA in 2008. Traditional IRA Contribution and Deduction Limit The contribution limit to your traditional IRA for 2008 |
|
Page Last Reviewed or Updated: April 29, 2009