Related to: 401(k)
On Wednesday night, the Senate unanimously adopted the Coronavirus, Aid, Relief and Economic Security (CARES) Act. On March 27, 2020, the House of Representatives passed the CARES Act, which is now awaiting the President’s signature. The CARES Act is an unprecedented bill that will impact almost every area of the U.S. economy, including employer retirement…
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Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2020. Here are some of the most important changes from 2019: Elective Deferral Limit: $19,500 (increased from $19,000 in 2019) Catch-Up Contributions: $6,500 (increased from $6,000 in 2019) 415 (Total) Plan Limit: $57,000 (increased from $56,000 in 2019) Compensation Limit: $285,000 (increased…
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Earlier this week, the Internal Revenue Service issued the various retirement benefit plan limitations for 2019. There are changes to some of the most important numbers from 2018: Elective Deferral Limit $19,000 Catch-Up Contributions $6,000 415 (Total) Plan Limit $56,000 Compensation Limit $280,000 The attached chart shows the historical limits from 2015 through 2019,…
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Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2018. There are changes to some of the most important numbers from 2017: Elective Deferral Limit $18,500 Catch-Up Contributions $6,000 415 (Total) Plan Limit $55,000 Compensation Limit $275,000 See an up-to-date chart that shows the historical limits from 2014 through 2018,…
Read MoreEarlier today, the U.S. Supreme Court issued a unanimous ruling that highlights the need to review 401(k) plan fees. The case is Tibble v. Edison and it reinforces the fact that employers need to understand 401(k) plan fees, minimize 401(k) plan fees and monitor 401(k) plan investments. The Tibble v. Edison Case. Tibble v. Edison…
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