2008 Limits
The IRS has finalized the qualified plan limits for 2008. The limits are adjusted annually for cost of living increases. We provide the limits for 2008 compared with the limits for 2007 in the following graphic. We also have an easy reference pocket card for you to download.
Click here to download Swerdlin's 2008 Pocket Card
Did You Know?
Most of the above limits are found in Section 415 of the Internal Revenue Code (see Code Section above). The Code provides for dollar limitations on benefits and contributions under qualified retirement plans. and requires the Commissioner annually adjust these limits for cost of living increases. The limitations change when the increase in the cost-of-living index meets the statutory thresholds that trigger their adjustment. However, for others, the limitation will remain unchanged.
The Code provides that various other dollar amounts are to be adjusted at the same time and in the same manner as the dollar limitation of Section 415(b)(1)(A). We provide these other relevent limits above.
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