401k Contribution Limits For 2015

401k Contribution Limits for 2015 best mortgage broker in DallasThe maximum amount of contributions a person can make to his or her 401(k) plan is set each year by the IRS. The 401k contribution limits for 2015 are $18,000 as an elective salary deferral to a 401(k) plan. Additionally, if you are age 50 or older, you can contribute an additional catch-up contribution of $6,000.

This is an increase from the years 2013 and 2014, where people could only contribute up to $17,500 as an elective salary deferral and $5,500 as a catch-up contribution.

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