The Internal Revenue Service (IRS) has announced dollar limits for tax-deferred retirement savings accounts for 2011, and, reflecting a flat cost-of-living index for 2010, has left those limits virtually unchanged for the new year.
For instance, the limit for 401(k), 457(b) and 403(b) plans remains unchanged at $16,500, with health savings accounts (HSA) holding steady at $3,050 for individuals and $6,150 for families.
In addition, the IRS left the maximum income for FICA tax purposes unchanged at $106,800, meaning that no Social Security taxes will be paid past that amount.
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