PSB Locations:
Lincoln Park2630 W. Superior St.
Duluth, MN 55806
Phone: (218) 722-3500
Loan Dept: 740-LOAN (5626)
Warehouse District
430 1st Ave. No., Suite 104
Minneapolis, MN 55401
Phone: (612) 238-0430
Canal Park Quick Bank
(in Dewitt-Seitz Marketplace)
394 South Lake Ave.
Duluth, MN 55802
IRA Contribution Limits
| Traditional and Roth IRA Contributions |
|
| 2002-2004 | $3000.00 |
| 2005-2007 | $4,000.00 |
| 2008 | $5,000.00 |
| 2009 & after | $5,000 = COLA* |
| *(Cost of living adjustment) | |
Catch Up Contributions (age 50 or older as of 12-31) |
|
| 2002-2005M | $500.00 |
| 2006 | $1,000.00 |
SEP's Contributions |
|
| 2002 | $7,000.00 |
| 2003 | $8,000.00 |
| 2004 | $9,000.00 |
| 2005 | $10,000.00 + COLA* |
| *(Cost of living adjustment) | |
Catch Up Contributions (age 50 or older as of 12-31) |
|
| 2002 | $500.00 |
| 2003 | $1,000.00 |
| 2004 | $1,500.00 |
| 2005 | $2,000.00 |
| 2006 | $2,500.00 |
Note: A tax credit will be available on the first $2,000 contribution from 2002-2006. This credit is available to offset amount of tax owed only. Credit amount is based on the tax filers AGI.