There are several common tax-sheltered ways to save for retirement. Most are tax-deferred, meaning your investments grow without taxation until you withdraw money. Roth IRAs can sidestep tax entirely.

Starting in 2002, you will be allowed to save much more in these accounts  at least for federal purposes. Here’s an overview, including the maximum you were allowed to save in 2001:

 IRAs: “Traditional” individual retirement accounts allow you to stash away up to $2,000  and often get a deduction for doing so. “Rollover” IRAs can be used to shelter savings from a pension or 401(k) when you leave a job. IRAs defer taxes until you withdraw cash.

 Roth IRAs: You get no tax deduction for the $2,000 you may save, but you’ll owe no tax on the account  ever. You also may convert a traditional IRA into a Roth, though you’ll pay taxes when you convert. One caveat: You must be at least 59 1/2 and your Roth must be at least 5 years old before you start withdrawing money.

 401(k)s: A company-sponsored retirement plan that allows workers to invest up to $10,500 from their paychecks. Many companies also “match” at least a portion of what workers save.

 403(b)s and 457s: Think of these like 401(k) plans. The difference is that 403(b)s are for people who work for nonprofit organizations such as schools and hospitals, while 457 plans are for state and municipal workers. The limit in 2001 was $10,500.

 Keoghs: A tax-deferred retirement plan for unincorporated businesses such as sole proprietors. In 2001, participants could save up to $35,000.

 SEP-IRAs: Simplified Employee Pensions are basically supercharged IRAs for owners and employees of small businesses. In 2001, participants could save up to $25,000 each.

 SIMPLEs: A retirement plan for companies with no more than 100 workers that can be offered either as an IRA or a 401(k). The maximum was $6,500 in 2001.