IRS Announces 2012 Plan Contribution Limits

On October 20, 2012, the IRS announced cost-of-living adjustments (COLAs) affecting the dollar limits for pension plans and other retirement-related items for the 2012 tax year. Many of the retirement and pension plan limitations will change next year because the cost-of-living index met the statutory thresholds that trigger the adjustment. Among the changes, the 402(g) elective deferral contribution limit for employees who participate in 403(b)/401(k) plans has increased from $16,500 to $17,000. The catch-up contribution limit for those age 50 and over remains unchanged at $5,500.

• TIAA-CREF: Please click here for a complete list of the new limits for 2012.
• Fidelity Investments: Please click here for a complete list of the new limits for 2012.