The actual exemption amount can be found on the IRS website via form 2555.
The form also has 3 tests to determine eligibility for the deduction. If you meet anyone of the test criteria you are eligible for the foreign earned income exemption .
I do not know about the retirement fund idea, in that the IRS shouldn't care what you do with the money after its earned.
You will also need to fill out a 1040 or variant with the above form.
Some senator is trying-maybe has actually done it- to pass legislation that will consider houseing and school allowance as part of total compensation to be used in determining amount of income. Meaning you made 60k, the employer paid 15k for school for jr., and they gave you accomodations that cost 30k. Your total income is then 105k, and you will not be exempt for the difference. Again I do not know if this is on the books.
You do know that tax day was last month right?
