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IRS releases TSP contribution limits for 2011
Thursday - 10/28/2010, 2:54pm EDT
The limit will continue to be $16,500 and the catch-up contribution limit will remain $5,500.
Tom Trabucco of the Federal Thrift Investment Board had predicted that contribution levels would stay the same in 2011 because social security and civil service retirement benefits had not increased either.
According to the IRS, pension plan limits increased slightly due to inflation adjustments:
- Contribution limits to a traditional IRA are $90,000 to $110,000 for married couples where one spouse is part of an employer-sponsored retirement plan (up from $89,000 to $109,000 in 2010). Limits for singles are unchanged at $56,000 to $66,000.
- Contribution limits to a Roth IRA are $169,000 to $179,000 for married couples filing jointly (up from $167,000 to $177,000 in 2010). Limits for singles are $107,000 to $122,000 (up from $105,000 to $120,000.)
For more information on plan contribution limits, go to the IRS website.
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