After concern that the limits may actually be lowered, the IRS today announced that pension plan contribution limits will remain level with 2009.  The specter of a downward adjustment arose because the cost-of-living index that the IRS uses to calibrate contributions dropped during the third quarter of 2009.  However, the IRS says the Social Security Act prohibits them from reducing these limits.  Therefore, the maximum 401k contribution that can be made pre-tax remains at $16,500 for 2010. For individuals who turn 50 before the end of 2010, the law allows for an additional $5,500 to be contributed.  This is called the “catch-up” contribution.

Progression of pension contribution limits

• 2004 - $13,000
• 2005 - $14,000
• 2006 - $15,000
• 2007 - $15,500
• 2008 - $15,500
• 2009 - $16,500
• 2010 - $16,500

It has been a few weeks since the last post, primarily because we have shifted blog platforms along with changing the software underlying our website.  However, we're back and will return to a regular schedule of posting this week.

For those who are interested, we have moved our website from Linux to .Net on Windows (yes, .Net can run on Linux).  We were using Joomla to manage the content on the Linux site, but I am very experienced with development on Microsoft platforms, with .Net and otherwise, and this gives me more flexibility and opportunity to create functionality.  I decided to shift the blog as well, and chose BlogEngine.Net as the tool to maintain blog content.  WordPress would have worked fine on Windows, and I wasn't unhappy with it, but once again I have a bit more flexibility with the new setup.

You'll note that the look and feel has not changed - we're still happy with the results we achieved in that department working with Glendale Designs.