401(k) Deferral Limit Increases for 2012

The maximum amount that you can contribute to your 401(k) plan for 2012 has increased to $17,000.  If you are 50 or older, you can contribute up to $22,500.

The maximum salary deferral under a SIMPLE Plan remains at $11,500 ($14,000 if you are 50 or older). The maximum IRA contribution amount will also remain unchanged at $5,000 ($6,000 if 50 or older).

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