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401(k) amd 403(b) Plans
In 2002 if you are under 50, the maximum you can defer is $11,000 per year. Those over 50 can defer $12,000. The under-50 limit increases by $1,000 and the over-50 limit jumps by $2,000 each year through 2006 (when the limit will be adjusted for inflation). Note to the self-employed: There are also increases to SEP-IRA and Keogh plan limits.
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.