Combined contribution

$28,500, I believe. BTW 50 is the key age to have the extras.

Plus $5,000 to Roth in '07, ($6,000 in '08)

JOE

Note: Roth IRA numbers include their age50+ catchups.

I don't like the way that was stated because it implies that the BASE Roth IRA contribution was $5k for 2007. It's not.

Dick specifically asked about a 55 yr old's options, but you are 100% correct. For 403(b) I broke out the basic vs catch ups, and should have done the same for Roth:

"Plus $4,000 to Roth in '07, ($5,000 in '08) basic contributions, and the $1000 catch-up for 50+"

Replies like yours help us keep our writing tight, and unambiguous, much appreciated. JOE

Is the $3,000 also known as the 15-year rule election? I seem to have run across that for 403(b) plans, but haven't been able to find out very much about it.

Some quick Googling indicates that to qualify you must have been at the institution in question for at least 15 years, and furthermore that there may be a lifetime limit of $15,000 on the additional amount contributed under the 15-year election. Hmmm. Furthermore, it appears that there are additional limitations, for example, that total voluntary deferrals cannot have exceeded $5,000 per year of service.

Yes, it's the "15 year rule" in IRS pub 571, and there are multiple restrictions regarding this as you discovered, which is why my original reply include dt he 'if available' caveat. JOE