No. of Recommendations: 1
I really wish they would raise the maximum elective deferral you can save in your 401(k). Ya think that might actually help some folks who plan to retire some day.......




IRS Announces Pension Plan Limitations for 2011

IR-2010-108, Oct. 28, 2010

WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2011. In general, these limits will either remain unchanged, or the inflation adjustments for 2011 will be small. Highlights include:

The elective deferral (contribution) limit for employees who participate in section 401(k), 403(b), or 457(b) plans, and the federal government’s Thrift Savings Plan remains unchanged at $16,500.


The catch-up contribution limit under those plans for those aged 50 and over remains unchanged at $5,500.



http://www.irs.gov/newsroom/article/0,,id=229975,00.html
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