2013 401k Contribution Limits Increase Slightly

Today the IRS posted the 2013 retirement plan limits, and there are a few increases from 2012. The new limits are as follows:

  • Elective Deferrals for 401k/403b/457: $17,500 (increased from $17,000 in 2012)
  • Catch-Up Contributions for 401k/403b/457: $5,500 (no change)
  • Annual Compensation: $255,000 (increased from $250,000 in 2012)
  • Annual Additions Limit for Defined Contribution Plans: $51,000 (increased from $50,000)
  • Highly Compensated Employees: $115,000 (no change)
  • Key Employee: $165,000 (no change)
  • Social Security Wage Base: $113,700 (increased from $110,
Reference:
BeManaged
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