From Dustin Woodard,
Your Guide to Mutual Funds.
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For 2008, the maximum amounts you can contribute to your 401(k) plan, as set by the IRS is shown below:

2008 401k Contribution Limit: $15,500
2008 Catch-Up Contribution Limit (only for those over 50 years old): $5,000

These are the IRS limits, but you are also subject to the limits imposed by your company’s 401k plan. To better understand the 2008 401(k) Contribution Limits, visit 401k Contribution Limits and What They Mean.

Other suggested readings: Avoid Common 401k Mistakes, Maximize 401k Contributions, and the Dangers of Owning Company Stock

Note: The matching contributions made your employer do not affect the above contribution limits