Caps for 401(k) and other retirement plan contributions in 1999 will remain the same as in 1998 because of virtually nonexistent inflation. Thus, the maximum annual payout from a traditional pension plan will stay at $130,000; the maximum annual contributions working Americans can make to defined contribution retirement plans will continue to be $30,000; and the amount working Americans can sock away in their 401(k) or 403(b) plans will still be $10,000, according to the Segal Co., an employee consulting firm. The only change is the maximum amount of salary on which Social Security contributions are based, which will rise to $72,600 in 1999 from $68,400 in 1998.
Caps for 401(k) and other retirement plan contributions in 1999 will...
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