The Consumer Price Index for August 2012 was released last Friday. It gives me one more data point to calculate 2013 401k and IRA contribution limits. Because of various rounding rules, I don’t necessarily have to wait until next month to project what the 2013 contribution limits will be.
Here are my projections:
| 2012 | 2013 | Increase | |
| Limit on employee contributions to 401k, 403b, or 457 plan | $17,000 | $17,500 | $500 |
| Limit on age 50+ catchup contributions to 401k, 403b, or 457 plan | $5,500 | $5,500 | None |
| Traditional and Roth IRA contribution limit | $5,000 | $5,500 | $500 |
| Traditional and Roth IRA age 50+ catchup contribution limit | $1,000 | $1,000 | None |
| SIMPLE 401k or SIMPLE IRA contributions limit | $11,500 | $12,000 | $500 |
| SIMPLE 401k or SIMPLE IRA age 50+ catchup contributions limit | $2,500 | $2,500 | None |
| Maximum annual additions to all defined contribution plans by the same employer | $50,000 | $51,000 | $1,000 |
| Highly Compensated Employee definition | $115,000 | $115,000 | None |
If you are curious how the numbers adjust to inflation, see my post from last year 2012 401k and IRA Contribution Limits.
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