403(b) and 401(k) Retirement Plans
Basic Limit, Section 415 limit*
2010 — $49,000
The IRS may adjust future limits annually for inflation. Adjustments, if any, will be in $500 increments.
General Limit on salary reduction contributions** 402(g) limit
2010 — $16,500
The IRS may adjust future limits annually for inflation. Adjustments, if any, will be in $500 increments.
Additional salary reduction contributions** for those 50 or over
2010 — $5,500
The IRS may adjust future limits annually for inflation. Adjustments, if any, will be in $500 increments.
457(b) plan limit*
2010 — $16,500
The IRS may adjust future limits annually for inflation. Adjustments, if any, will be in $500 increments.
*The maximum contribution is the lesser of 100% of compensation or this adjusted limit.
**Includes employee salary reduction contributions and Roth elective deferral contributions.
IRA contribution limits
Traditional and Roth IRA contribution limits
2010 — $5,000
The IRS may adjust future limits annually for inflation. Adjustments, if any, will be in $500 increments.
Additional Traditional and Roth IRA catch-up contributions for those 50 or over
2010 and beyond — $1,000
Portability
The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) dramatically increased pension plan portability allowing you to consolidate and simplify your retirement investments. This includes increased portability among plans sponsored by not-for-profit and for-profit employers, allowing IRA, 403(b) and 401(k) plan assets to be commingled. Additionally, after-tax dollars may now be rolled over to IRA, 403(b) and 401(k) plans. To complete a rollover of your other retirement accounts to your employer-sponsored plan at GuideStone, call our Customer Service Center at 1-888-98-GUIDE (1-888-984-8433), or use our Rollover Now tool to start the process. It's easy, and GuideStone can do most of the work for you.
For more information about your retirement planning, please review these retirement resources or feel free to contact us.
Additional resources available on contribution limits: