What is the maximum amount of money I can contribute to my 401k annually? Does the amount increase each year?
Answer: Elective deferral limits for 2010 is $16,500. But this can be reduced based upon plan restrictions and government regulations. In addition, there are special non-discrimination rules to prevent highly compensated employees (HCE) from being able to save substantially more than lower paid employees.
A complete table of plan limits is available by clicking here.
