2008 IRA Dates and Important Information

Traditional and Roth IRA Contribution Limits

The contribution limit for both Traditional and Roth IRAs is $4,000 for 2007, but has increased to $5,000 for 2008.

"Catch Up" Contributions
Americans who have reached the age of 50 have the ability to contribute more to their retirement account under the "catch up" provisions of the 2002 legislation. The amount of the "catch up" for Traditional and Roth IRAs is capped at $1,000. In order to qualify, an individual must have reached the age of 50 in the year in which they make the "catch up" contribution.

Important IRA Dates
January 1, 2008	IRA contributions can be made for 2008
April 1, 2008	Last day for 2007 required minimum distribution for 70 1/2 year olds
April 15, 2008	Last day to contribute to IRA for the year 2007
December 31, 2008	Last day to convert a Traditional IRA to a Roth IRA for 2008
December 31, 2008	Last day to receive a required minimum distribution from Traditional IRA for 2008