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Ask A CPA - Tax Law changes - 2013

401(K), 403(B), 457 And TSP Plans - Maximum 2013 Contribution Limits

The limit on employee elective deferrals is $17,500 for 2013. ($17,000 for 2012) and $23,000 if age 50 or older ($22,500 in 2012) The catch up contribution limit for employees 50 and over remains unchanged at $5,500. Generally, all elective deferrals made to all plans in which you participate are aggregated to determine if you have exceeded these limits.

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