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What is the maximum amount of salary that I can defer to the 401(k) Plan per year?

April 26, 2017defer maximum Plan salary year

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What is the maximum amount of salary that I can defer to the 401(k) Plan per year?

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The Internal Revenue Service (IRS) limits the amount of salary you can defer to this or any other plan on a tax-deferred basis. In 2009, the annual limit is $16,500. Note that if you are 50 or older you are eligible to defer an additional $5,500.00 for the year 2009.

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The Internal Revenue Service (IRS) limits the amount of salary you can defer to this or any other plan on a tax-deferred basis. In 2011, the annual limit is $16,500. Note that if you are 50 or older you are eligible to defer an additional $5,500.00 for the year 2011.