2009 Pension Plan Limits

IRS has announced the 2009 Pension plan limits.
Accordingly,

• 401(k) or 403(b) Deferral Limit - $16,500 and Catch-Up Contribution Limit(Age 50 or older) - $5,500
• Simple IRA Account Deferral - $11,500 and Catch-Up Contribution Limit(Age 50 or older) - $2,500
• Maximum annual contribution to 401 (k) or SEP IRA - $49,000
• Maximum Compensation Limit - $245,000