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| Retirement Savings – Important Numbers for 2011 |
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| Savings Instrument | Maximum Contribution |
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IRA
under age 50
age 50 or older |
$5,000
$6,000 |
401k and 403b
under age 50
age 50 or older |
$16,500
$22,000 |
SIMPLE Account
under age 50
age 50 or older |
$11,500
$14,000 |
Social Security
(maximum wage base = $106,800) |
$6,621.60 by individual
(with $6,621.60 by employer) |
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