Financial/Retirement Professionals » Business Retirement Professionals

401(k) Plan 2007 Contributions

Salary deferral contributions are limited to the lesser of 100% of eligible compensation or $15,500 for 2008.

Participants aged 50 or greater may defer $5,000 in catch up contributions. Employer contributions are also allowed. These may be either a matching, fixed percentage, fixed dollar, combination or a profit-sharing contribution. The total of annual addition limit which includes employee and employer contributions cannot exceed 100% of participant's eligible compensation or $46,000.