Thursday, October 20, 2011

IRS announces 2012 limits

IR-2011-103

  • The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $16,500 to $17,000.
  • The catch-up contribution limit for those aged 50 and over remains unchanged at $5,500.

Click on the link above for all the details.

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