IRACatchup
returns
the 219(b)(5)(B)
IRA Catch-up Contribution Limit dollar amount for a given year for an IRA. A catch-up
contribution is an elective deferral made by a participant age 50 or older that
exceeds the otherwise limited amount.
IRACatchup = $1,000 ($500 for years
2002 through 2005). Not indexed for inflation.
Syntax
IRACatchup (DeterminationYear, [LawYear],
[Inflation])
|
Parameter Name |
Description |
|
DeterminationYear |
A
4 digit number, or an optional text value as shown in the table below. If the
DeterminationYear is after the LawYear, this is a projected
calculation based on the Inflation assumption. Click to view various options for the DeterminationYear parameter. |
|
LawYear |
A
4 digit number. |
|
Inflation |
The
assumed rate of inflation: the IRS
Cost-of-Living Adjustment for future years, as measured by the
year-over-year increase in CPI-U. This
is used only for a projected calculation. Optional:
default = 0% |
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