Can I invest in the Lilly 401(k) plan and still contribute to an IRA?
Yes. You can contribute up 50 percent of your monthly base salary up to $16,500 in 2009 to your Lilly Employee Savings Plan plus $5,500 more as a catch up for those of you who turn 50 by the end of the year. Lilly currently matches dollar-for-dollar up to six percent of your eligible base salary. If you would like assistance choosing among the investment options in your 401(k) we offer a 401(k) tune-up. In addition, you can contribute to an individual IRA. For 2009, the IRA contribution limit is $5,000 with a $1,000 catch up for those of you who turn 50 by the end of the year. This IRA contribution may or may not be deductible depending on your adjusted gross income. You may also be eligible to make a contribution to a Roth IRA depending on your adjusted gross income. However, the total contribution to all your IRAs for 2008 cannot exceed the $5,000 or $6,000 for those 50 or older. We can help you determine if you are eligible by reviewing your current situation. Can Oaktree help me es
