No. of Recommendations: 1
A friend of mine at work told me today that he had heard that the limits for our deferred compensation plan had been increased from $8000 to $8500 per year. I had not heard anything about that, although I was aware that there was some legislation pending in Congress to change IRA and 401k amounts.

Can anyone confirm that this amount has been incrased.


Yes, it has. Here's a link to an Adobe copy of the IRS news release: http://ftp.fedworld.gov/pub/irs-news/ir-00-82.pdf

This has nothing to do with the legislation you mentioned. The limit under current law is indexed to inflation, and that's what the $500 increase is due to.

TMF ExRO
Phil Marti
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.