How Much From Your Pension?

How much can you get from your retirement plan? How much can you contribute?

The Pension Rights Center has a great chart that you need to see.

For example:

*The maximum annual benefit payable by a defined benefit pension plan in 2008 will be $185,000 — up from $170,000 in 2005.

*The maximum contribution to an IRA in 2008 will be $5,000. That’s up from the old limit of $4,000.

*If your employer goes belly-up and sabotages your pension plan, the most you can get per month from the federal Pension Benefit Guarantee Corporation is $4,312.50.

There’s more — and it all fits in with any consideration of reverse mortgages and financial planning.

See: Retirement Plan Contribution and Benefit Limits

This entry was posted on Wednesday, December 5th, 2007 at 7:46 am and is filed under Reverse Mortgage . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.