If you're new here, you might want to learn what this site is about.
Please consider signing up to receive free updates via RSS or e-mail.

Adjust Text Size

401(k), 403(b), and 457(b) Contribution Limits for 2013

Written by Nickel - 2 Comments

Contribution Limits for 2013

Does your employer offer a retirement plan such as a 401(k), 403(b), or 457(b)? If so, then you might be interested in knowing that the contribution limits for these account types has increased for 2013.

This means that individuals under age 50 can contribute up to $17,500 to their 401(k) account this coming year, up from last year’s limit of $17,000. And if you’re over age 50, you can contribute an extra $5,500 toward your retirement this year.

Beyond the above, the aggregate limit (employer + employee contributions), which is specified by Section 415(c)(1)(a) of the Internal Revenue Code, has increased from $50k/year to $51k/year. This is the so-called 415(c) limit and, while it doesn’t affect many of you, it does have an impact on some people (especially if you’re self-employed and have a high income).

Note that 403(b) and 457(b) plans, as well as the Thrift Savings plan, are subject to the same contribution limits, so those of you in the non-profit, educational, and public sectors will likewise be able to save a bit more this year.

Are you planning on increasing your retirement contributions in 2013?

Published on December 26th, 2012 - 2 Comments
Filed under: Retirement, Saving & Investing, Taxes

About the author: is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

Related articles...

» 401(k), 403(b), and 457(b) Contribution Limits for 2012
» 401(k), 403(b), and 457(b) Contribution Limits for 2011
» 401(k) Limits to Decrease in 2010?
» 401(k), 403(b) and 457(b) Contribution Limits for 2008
» 401(k), 403(b), and 457(b) Contribution Limits for 2009
» 401(k), 403(b), and 457(b) Contribution Limits for 2010
» Open Enrollment Time
» links for 2007-04-12

Was this article useful? Please sign up to receive our content via e-mail:

You will receive only the daily updates, and can unsubscribe at anytime.

2 Responses to “401(k), 403(b), and 457(b) Contribution Limits for 2013”

  1. 1
    Chris Says:

    I’d LOVE to increase my retirement contributions, but it seems as if we’ll be paying significantly higher taxes in 2013, and I’m not sure if we’ll be able to do much of anything. When Social Security taxes were temporarily decreased over the last couple of years (by 2%) we were able to add to our retirement contributions, but when that goes away that will also be a blow. It’s tough not knowing what will happen with other taxes. More and more we’re feeling squeezed with living expenses, and it’s tough to find any more ways to cut back since we’re pretty lean already.

  2. 2
    Joe Says:

    We are awaiting the final episode of the fiscal cliff drama to play out before deciding on extra 401K contributions.

    I think the roth is climbing to 5500. Probably will max. that out.

Leave a Reply

Disclaimer...
Because rates and offers from advertisers shown on this website change frequently, please visit referenced sites for current information. This website may be compensated by companies mentioned through advertising, affiliate programs or otherwise.

FiveCentNickel User Survey