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Friday, January 02, 2009

2009 401(k) and Social security taxable earnings

The 2009 limits for 401(k) plan contributions have increased along with the maximum taxable earnings subject to the Social Security tax (SST).

The 2009 limits are as follows:

401K (Maximum annual contribution): $16,500 (up from $15,500 in 2008)
401K Catch-up: (Max annual contribution): $5,500 (up from $5,000 in 2008)
Social Security: Maximum taxable earnings (6.2% of Federal taxable income): $106,800 (SST: $6,621.60) (up from $102,000 (SST: $6,324.00) in 2008)

posted by Ruby @ 10:15 AM

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