This fact sheet provides the information for fiscal. years 1989 through 1993 and, where possible, fiscal year 1994. Results in Brief Although exact payment figures were not readily available, at least. $87.4 million was paid by federal agencies and the Judgment Fund to.
The Traditional and Roth IRA contribution limits are $5,500 for those under age 50. Persons age 50 and over can make additional catch up contributions of $1,000, for a total contribution limit of $6,500.
These contribution limits also apply to traditional deductible IRAs. And, by the way, the limits are the max you can contribute to all types of IRAs combined in a single year, which, unfortunately, means you can't contribute the max to a Roth IRA, a deductible IRA and a nondeductible IRA. But the similarities between nondeductible and Roth IRAs end there. After that, the differences between the two are huge. The most important distinction is what happens to your money after you make your contribution. With a nondeductible IRA, your money compounds free of taxes as long as it remains in the account.