Maximum 401(k) contributions to remain the same in 2016

The Internal Revenue Service announced yesterday the contribution limits for retirement plans won't change in 2016.

The most you can put in your 401(k) will still be $18,000.

Some limitations will change. Those include phase-out income rules for Roth IRAs and limits on who can take a tax deduction for contributions to a traditional IRA.

Read more from Time.