*Update: The 401k max contribution limits for 2013 have been released and are as follows: The elective deferral (contribution) limit for employees is increased from $17,000 to $17,500. The catch-up contribution limit for employees aged 50 and over remains unchanged at $5,500. In the US 401(k) is a retirement savings plan that allows workers to invest the savings thus deferring income tax on the saved money until it is withdrawn. The employee nominates a portion of wages to be paid directly ...