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February 20, 2009
The Post-Searchlight, GA

If you have a 401(k) plan, you've got a very good retirement-savings vehicle that's probably had a rough year.

However, while you might have been tempted to toss your statements without looking at them, you don't want to throw away the opportunity to continue contributing to your 401(k)—and now you can contribute even more.

To be specific, the contribution limit for 401(k) plans will increase from $15,500 in 2008 to $16,500 in 2009. And if you're 50 or older, you can put in an extra $5,500 in 2009, up from $5,000 in 2008. (Your 401(k) plan may also allow Roth contributions, which are made with after-tax dollars, although withdrawals, including earnings, are tax-free in retirement.)

Read entire article: http://www.thepostsearchlight.com/news/2009/feb/20/keep-contributing-your-401k/