401(k) Contribution Limits for 2012 (50+, pension plan, retired, raise)

[MadManofBethesda]

For those of you who are in the retirement planning stage of life rather than already retired, the IRS has raised the contribution limit on
401(k)s from $16,500 to $17,000 for 2012. The additional catch-up contribution limit for those who are 50+ remains unchanged at $5,500.

The AGI phase-out ranges for people making contributions to Roth & Traditional IRAs were also raised. The specifics are contained in the IRS news release below:

IRS Announces Pension Plan Limitations for 2012

[Texas User]

What if 401K and all IRA's had no limitations? That be be awesome.