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401k Contribution Limits
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401k Contribution Limits
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Allowable elective deferrals for 401k plans increased to $13,000 per year in 2004, up $1,000 from 2003's $12,000 limit. Current law governing 401k plans, the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), provides for growth of the annual limit to match cost-of-living increases. Specifically, the limitations were set to grow by $1,000 until 2006, when the contribution limit reached $15,000.
More details on 401k maximum contributions and related retirement plans, can be found in Internal Revenue Bulletin 2003-45 released by the IRS on November 10, 2003.
401k Information |
401k Contribution Limits |
401k Catch-up Payments
401k Early Withdrawal Penalties |
401k Loans |
401k Rollover
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