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Elective deferral limits (401k, 403(b), and 457) to $11,000 in 2002, then increased $1,000 each year till $15,000 in 2006, and then indexed in $500 increments.

The qualified plan catch-up contribution for people age 50 or older will be $1,000 in 2002, then increased each year by $1,000 until $5,000 in 2006, and then indexed in $500 increments.


The dollar limits are set by the "The Economic Growth and Tax Relief Reconciliation Act of 2001." So the $14K cannot be (and is not) based on any one individual's income and it doesn't vary from one person to another. The percentage of your gross you are allowed to contribute is set by your employer; it is more likely to be dependent on the income distribution in your company than anything else AFAIK. is a fairly comprehensive resource.
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