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

Posted online October 22, 2015 | 11:40 am

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.

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