October 19, 2012
Updated Oct 19, 2012 at 12:49 PM EDT
UNDATED (www.incnow.tv) - Beginning in 2013, you can stash more money into your retirement account.
The IRS announced it is raising the maximum annual 401K contribution by $500.
Instead of $17,000, you'll be able to contribute $17,500.
It's the second year in a row that the IRS boosted the limit as a result of inflation.
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