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According to the EGTRRA, not only is the 15% limit raised to 25%, but employee contributions will no longer be counted along with employer contributions (this applies to the deductability limit only).

Here's a link to an article that is relevant to this discussion:

"Percent-of-Pay Changes for 2002 Will Let Some Contribute More"
http://401k.mpower.com/commentary/feature/feature_073101.xsp
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