What are the 2006 401k Limits?

The IRS raised the 2006 401k limits to $15,000. This is up from the 2005 401k limits of $14,000.
If you are over 50 years old, you may also contribute an extra $5000 to your 401k as that is the 2006 catch-up contribution limit. This is also up from the 2005 catch-up contribution limit of $4000.

401k limits

Year Annual 401K Contribution Limits Catch-up Contribution
2002 $11,000 $1000
2003 $12,000 $2000
2004 $13,000 $3000
2005 $14,000 $4000
2006 $15,000 $5000
2007 Indexed to Inflation Indexed to Inflation