2009 Maximum 401(k) Elective Deferral Contributions

2009 Maximum 401(k) Elective Deferral Contributions

The IRS sets an annual calendar year maximum for elective deferral contributions. On October 16, 2008, the Internal Revenue Service announced the cost-of-living adjustments to dollar limitations for retirement plans for 2009. The new limits for 401(k) Plans are as follows:

Maximum 401(k) deferral contribution limit: $16,500

Maximum 401(k) deferral Catch-Up Contribution: $5,500