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.
It is then invested according to the rules of the plan. The employer as a benefit to the employee, has the option of matching a portion of the salary deferral. The IRS has instituted yearly limits as to how much salary an employee can contribute to a 401k plan. You can contribute up to $17,500 for 2014.If you are age 50 or older in 2014, you can contribute an additional $5,500 for a total of $23,000. The 401k limits for 2015 have been released by the IRS and they are increased to $18,000.If you are age 50 or older in 2015, you can contribute an additional $6,000 for 2015 for a total of $24,000.f you are age 50 or older in 2014, you can contribute an additional $5,500 for a total of $23,000. The 401k limits for 2015 have been released by the IRS and they are increased to $18,000.