2011 vs. 2012 ,401k Contribution Limits and Catch-up Amounts

Updated and new 401k contribution limits for 2012 has been released by IRS,which reflect a $500 increase over the 2011 standard 401k contribution limit.

What this means for your 401k retirement plans:

The maximum amount an employee can contribute to a 401k in 2012 will increase to $17,000 and for individuals over the age of 50,  While their catch-up contribution will remain unchanged at $5,500 .

Points to be remembered:

 401k maximum contribution limit

Additional total limits

Maximum Employer Contributions

Maximum Employee and Employer 401K Contribution Limits and Catch-up Amounts

Contribution deadlines

More on the 401K limits and contribution rules

Catch up Contribution Limits for those 50+ has also increased

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Important note: The 401k limits or 401k contribution Limit for year 2012 is now become $17,000