Wednesday, 13 June 2012

401k maximum catchup contribution Limit for the year 2012

The IRS has now released the official 2012 401k, 403b and other 401k retirement plan contribution limits, which reflect a $500 increase over the 2011 standard 401k contribution limit. It is a result of higher inflation and the latest cost of living adjustment (COLA) figures. The 2012 contribution limits is the first increase in three years. Each year in October these limits are adjusted according to a formula based on the inflation rate  in the third quarter vs. the previous year’s quarter.

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