Back in October, the Internal Revenue Service announced cost of living adjustments and dollar limitations for pension plans and retirement plans. Below are the 401k contribution limits for Tax Year 2012.
401k Limits for 2012
- Elective Deferral (Contribution) limit – $17,000
- Catch-up Contribution limit (for those above age 50) – $5,500
Seeking other contribution limits? Here is an overall comparison of Contribution Limits for 2012.