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What is the 2003 limit for elective deferrals to 401(k) plans?

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What is the 2003 limit for elective deferrals to 401(k) plans?

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Elective deferrals into a section 401(k) plan are limited to $12,000 for 2003, except that employees age 50 or over may be eligible to make an additional contribution of up to $2000 in 2003.

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