{"id":180,"date":"2008-10-20T09:09:57","date_gmt":"2008-10-20T13:09:57","guid":{"rendered":"https:\/\/old.visionpayroll.com\/kb\/?p=180"},"modified":"2008-10-20T09:09:57","modified_gmt":"2008-10-20T13:09:57","slug":"irs-announces-increases-to-401k-403b-and-457e15-deferral-limits-for-2009","status":"publish","type":"post","link":"https:\/\/old.visionpayroll.com\/kb\/2008\/10\/irs-announces-increases-to-401k-403b-and-457e15-deferral-limits-for-2009\/","title":{"rendered":"IRS Announces Increases to 401(k), 403(b), and 457(e)(15) Deferral Limits for 2009"},"content":{"rendered":"<p><span style=\"font-size: 10pt; color: #000000; font-family: Verdana; mso-bidi-font-family: Arial; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\">In <a href=\"http:\/\/www.irs.gov\/newsroom\/article\/0,,id=187833,00.html\" target=\"_blank\">IR-2008-118<\/a>, the Internal Revenue Service (IRS) announced increases to the limits on deferral contributions for 2009 under <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC401\" target=\"_blank\">\u00a7<\/a><\/span><span style=\"font-size: 10pt; color: #000000; font-family: Verdana; mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\"><a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC401\" target=\"_blank\">401(k)<\/a>, <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC403\" target=\"_blank\">\u00a7403(b)<\/a>, and <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC457\" target=\"_blank\">\u00a7457(e)(15)<\/a><\/span><span style=\"font-size: 10pt; color: #000000; font-family: Verdana; mso-bidi-font-family: Arial; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\">. These limitations are codified in those sections of the Internal Revenue Code of 1986 (IRC). Under <a href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=browse_usc&amp;docid=Cite:+26USC415\" target=\"_blank\">IRC \u00a7415<\/a>, the Commissioner of the IRS is required to adjust the plan limitations to keep pace with inflation. For 2009, the deferral contribution limitation will increase from $15,500 for 2008 to $16,500 for 2009. The age 50 and over catch-up contribution will also increase from $5,000 for 2008 to $5,500 for 2009 for individuals who plan to reach age 50 before the end of 2009. <\/span><span style=\"font-size: 10pt; font-family: Verdana; mso-bidi-font-family: Arial; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\">Contact <a href=\"mailto:info@visionpayroll.com\" target=\"_blank\">Vision Payroll<\/a> if you have questions on changes to these <span style=\"color: #000000;\">deferral contribution <\/span>limits.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In IR-2008-118, the Internal Revenue Service (IRS) announced increases to the limits on deferral contributions for 2009 under \u00a7401(k), \u00a7403(b), and \u00a7457(e)(15). These limitations are codified in those sections of the Internal Revenue Code of 1986 (IRC). Under IRC \u00a7415, the Commissioner of the IRS is required to adjust the plan limitations to keep pace [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[425,243,10,423,424,426,418,427,321,422],"_links":{"self":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/180"}],"collection":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/comments?post=180"}],"version-history":[{"count":1,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/180\/revisions"}],"predecessor-version":[{"id":4309,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/180\/revisions\/4309"}],"wp:attachment":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/media?parent=180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/categories?post=180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/tags?post=180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}