Wednesday, September 28, 2005

Retirement Plan Contribution Maximums

An article in Equity Trust Company's newsletter "The Ultimate IRA Report" once again highlights the benefits of the individual 401(k).

The nice thing about this one is that they have a table showing sample incomes incremented by $20,000 and the corresponding 2005 contribution limits for Simple IRAs, SEP IRAs and Individual 401(k)s. It's a good one for quickie reference.

What has escaped my attention until this particular article is that while those doing business as sole proprietors can contribute 20% as profit sharing, those with an incorporated business may contribute as much as 25%.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...