The IRS has announced that the contribution limits for 2008 will remain unchanged at $15,500, which sort of sucks. Apparrently the cost of living hasn’t increased for people who contribute to their 401ks 🙂 See details below.
Many of the pension plan limitations will change for 2008 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, for others, the limitation will remain unchanged. For example, the limitation under Section 402(g)(1) on the exclusion for elective deferrals described in Section 402(g)(3) remains unchanged at $15,500. This limitation affects elective deferrals to Section 401(k) plans and to the Federal Government’s Thrift Savings Plan, among other plans.
Source (thanks H B)