401(k) Limits Not up Much From Last Year
Pensions & Investments (01/22/01) Vol. 29, No. 2 p.8; Anand, Vineeta

The Internal Revenue Service has announced that $10,500 will remain the maximum amount for 401(k) contributions, according to inflation adjustments. However, SIMPLE retirement plan participants and 457 plan participants will be allowed to contribute an extra $500 per year into their plans. In addition, defined contribution plan employers and employees will be allowed to contribute an extra $5,000 per year into their plans, while retirees will be able to receive an extra $5,000 per year in pension payments.


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