IRS Announces Limits for 2008

[Appleby]

2008 limits for Roth Contributions, IRA Deductibility , Saver's Credit...

http://www.irs.gov/pub/irs-drop/rp-07-66.pdf

[Appleby]

Other plan limits available here http://www.irs.gov/newsroom/article/0,,id=174873,00.html

[Bird]

I assume the IRA limits themselves ($4,000 / $1,000) are unchanged? If it was in there I couldn't find it.

[Appleby]

EGTRRA took care of those up to 2010

[Appleby]

See http://www.retirementdictionary.com/IRA.htm for IRA limits

[Bird]

Thanks, I guess I completely forgot that they were on a different schedule and were not indexed for inflation until later.

[Guest Judy S]

I see the basic IRA compensation limits for 2008 (Trad - 53,000/85,000/159,000 and Roth - 101,000/159,000), but what are the phase-out ranges and the maximum compensation amounts and how are they determined?

[Appleby]

See http://www.retirementdictionary.com/irs-2008.htm

As to how they are determined, see http://benefitslink.com/boards/index.php?s...ic=33636&hl and http://benefitslink.com/boards/index.php?s...ic=36943&hl

[Guest Judy S]

Fantastic. Thanks so much!