Retirement Plan Limits for 2010 same as for 2009

Limits for 2009 and 2010 are the same

Salary deferrals if under age 50: $16,500
Over age 50 (by last day of the Calendar Year) Make-up contribution: $5,500
So, salary deferral limit for someone age 50 or more: $22,000
Annual Additions Limit (from all sources): $49,000
If over age 50, maximum Annual Additions limit: $54,500 (assuming $5,500 in deferrals)
Compensation that can be counted for plan purposes: $245,000
For more limits, see http://www.401kacademy.com/401kpdf/limitationschart.pdf