2009 Savings Contribution Limits

Part of planning for retirement includes contributing to one of Northrop Grumman's savings plans. Below are the 2009 savings plan contribution limits as defined by the IRS. The following chart contains the maximum contribution rates (the percentage of your pay that you can contribute) to your plan and the date in which you will need changes to your contribution elections to be effective with your first paycheck in January.

2009 IRS Savings Plan Contribution Rates
	If you are Under Age 50	If you are age 50 or Older*
Your Tax-Deferred Contribution Limit	Maximum of $16,500	Additional $5,500 in catch-up contributions, for a maximum of up to $22,000
Limit on total contributions (your tax-deferred contributions plus Northrop Grumman's contributions and/or matching contributions	100% of annual pay or $49,000, whichever is less	100% of annual pay or $54,500 ($49,000 + $5,500 in catch-up contributions), whichever is less

*You must be at least 50 years old by the end of 2009 to be eligible to make catch-up contributions.

Note: In 2009, the total annual amount of eligible compensation on which your savings plan contributions may be based is the first $245,000 of a person's earnings. Pay about this limit cannot be deferred into the plan.

Plan	Plan Limits	Date to change contribution rate for first paycheck in January
Northrop Grumman Savings Plan	1% - 75% for non-HCEs	12/21 - 12/26
Financial Security & Savings Program	1% - 75% for non-HCEs	12/21 - 12/26
Newport News Union	1% - 30%	12/24 - 12/28