1 Joe Giudice: Why Teresaâs Husband Will Now Serve Even More Jail Time. 2  Teresa Giudice: Husband Joe Apologizes For Involving Her In Fraud.  Teresa Giudice: She Doesnât Regret The Mistakes That Landed Her In Jail.
The maximum amount of contributions a person can make to his or her 401(k) plan is set each year by the IRS. For the year 2016, people can contribute up to $18,000 as an elective salary deferral to a 401(k) plan.Additionally, if you are age 50 or older, you can contribute an additional catch-up contribution of $6,000.This 2016 contribution is the same limit as applies in 2015.or the year 2016, people can contribute up to $18,000 as an elective salary deferral to a 401(k) plan. Additionally, if you are age 50 or older, you can contribute an additional catch-up contribution of $6,000.
Compensation and contribution limits are subject to annual cost-of-living adjustments. The annual limits are: 1  salary deferrals - $17,500 in 2014 and $18,000 in 2015, plus $5,500 in 2014 and $6,000 in 2015 if the employee is age 50 or older (IRC Sections 402(g) and 414(v)).2  annual compensation - $260,000 in 2014 and $265,000 in 2015 (IRC Section 401(a)(17)).lthough Mary makes salary deferrals of $17,500, only $13,000 (5% of $260,000) will be matched. She must receive a matching contribution of $6,500 (50% x $13,000) under the terms of the plan.