I wanted everyone to be aware of the new 401k limits for next year, so here is a post that explains everything. Read the whole thing about 401k limits at savingsvillage.com
401k limits 2013
The 2013 401k limits have now been released by the IRS, and there are some very positive changes. Continuing with the limit categorization method for this post so far I will go through the changes.
For the 2013 tax year you will be able to contribute $17,500 as your basic limit, which is up another $500 from 2012 (see above section). Just a reminder, this limit applies for everyone.
The catch-up limit for anyone over 50 is still the same at $5,500, which gives a personal 401k contribution limit for anyone over 50 as $23,000 in 2013.
Last but not least, the total limit (between you and your employer), is $51,000. Compared to 2012 this has gone up another $1,000, which is always nice.
Just a reminder that this page will always reflect changes as soon as possible (for the 2013 401k limits or any future year), so feel free to bookmark it and check back in whenever you are interested in the 401k Contribution Limits.