IRS raises contribution limits for DC plans in 2013
IRS changes announced today will change contribution limits for people contributing to both workplace retirement plans and IRAs.
By Paula Aven Gladych|October 18, 2012 at 09:31 AM
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The Internal Revenue Service announced today that it is raising the contribution limit for employees participating in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plans to $17,500 from $17,000.
The catch-up contribution limit for employees aged 50 and over who participate in those same plans remains the same at $5,500.
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