investing






 

Question by  Maria75 (13)

What is the limit to have put in your 401k in 2008?

 
+7

Answer by  JohnC (131)

In 2008, the maximum amount you could have put into your 401k was $15,500. This limit increased to $16,500 in 2009. Unfortunately, you cannot contribute money to a 401k retroactively, so if you contributed less money than the limit, you are out of luck in terms of making new contributions.

 
+6

Answer by  tamarawilhite (17883)

In 2008, the maximum amount of pre-tax dollars that could be put in a 401K by an employee was 15,500 dollars. Employer matching of contributions is in addition to this amount.

 
+6

Answer by  webbbb (95)

For tax year 2008, the Internal Revenue Service has established the limit for contribution to a 401K pension plan to be $15,500. The amount for tax year 2008 is unchanged from the previous year. Additionally, for those 50 or older, an additional $5,000 is allowed bringing the limit for that group at $20,500

 
+5

Answer by  Daigle83 (66)

In 2008, a worker that was 49 years old and younger was able to place a maximum of $15,500 into their employer 401k. However, workers that were 50 years old and older were able to put an extra $5,000 into their account for a grand total of $20,500 into their 401k.

 
You have 50 words left!