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| For those individuals 55 years old or older, the law allows an additional "catch up" deposit. Catch up deposits start at $500 in 2004 and go up by $100 each year, until the maximum catch up amount is reached, which is $1,000. If both the husband and wife are 55 or older, they could both use the catch up provision. |
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| Year |
Catch-up Contribution |
| 2004 |
$500 |
| 2005 |
$600 |
| 2006 |
$700 |
| 2007 |
$800 |
| 2008 |
$900 |
| 2009 and beyond |
$1000 |
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