Friday, October 16, 2009

2010 COLA Limits for Employee Plans

The 2010 Cost-of-Living Adjustments (COLAs) for determining annual limits for most retirement plans remain the same as in 2009, except for the following:
  • The modified adjusted gross income limits for determining the deductible amount of traditional IRA contributions for single and head of household filers who are active participants in a plan, and for married taxpayers filing jointly who aren’t active participants in a plan but whose spouses are;
  • The modified adjusted gross income for Roth IRA purposes for determining the maximum Roth IRA contributions for taxpayers whose filing status is married filing jointly or qualifying widow(er); and
  • The adjusted gross income limits for taxpayers who qualify for the 50% savers credit.
For more detail, see,,id=214321,00.html and,,id=96461,00.html