2010 retirement plan contribution limits

The amount of money that you can contribute to your retirement plan account each year has been increasing steadily. However, the low inflation rate in 2009 prevented limits from being increased for 2010. The table below shows the contribution limits for a variety of plans and IRA types. Check with your employer about any specific contribution limits for your plan.

Plan or IRA type 2010 contribution limit 2010 additional catch-up contribution* (age 50 and older)
401(k), 403(b), 457, SARSEP $16,500 $5,500
SIMPLE IRA $11,500 $2,500
Traditional and Roth IRA $5,000 $1,000

*Catch-up contributions for individuals age 50 and over may be permitted in addition to annual contributions. For example, in 2010, participants who meet the age requirement can contribute up to $22,000 to an employer-sponsored retirement plan and $6,000 to an IRA. Check with your employer to see if this option is available in your plan.

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Investors should carefully consider the investment objectives, risks, charges and expenses of the American Funds. This and other important information is contained in each fund’s summary prospectus and prospectus, which can be obtained from your plan’s financial professional or downloaded and should be read carefully before investing.

The Capital Group Companies

  • American Funds
  • Capital Research and Management
  • Capital International
  • Capital Guardian
  • Capital Bank and Trust