Related to: IRS
Earlier this afternoon, the Internal Revenue Service issued the adjusted retirement plan limitations for As expected, most of the limits will significantly increase from 2022: Elective Deferral Limit: $22,500 (increased from $20,500 in 2022) Catch-Up Contributions: $7,500 (increased from $6,500 in 2022) 415 (Total) Plan Limit: $66,000 (increased from $61,000 in 2022) Compensation Limit: $330,000…
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Earlier this afternoon, the Internal Revenue Service issued the adjusted retirement plan limitations for 2024. As expected, most of the limits will significantly increase from 2023: Elective Deferral Limit: $23,000 (increased from $22,500 in 2023) Catch-Up Contributions: $7,500 (the same as in 2023) 415 (Total) Plan Limit: $69,000 (increased from $66,000 in 2023) Compensation Limit:…
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Late yesterday, the Internal Revenue Service issued most of the adjusted retirement plan limitations for 2022. As expected, most of the limits will be increased from 2021: Elective Deferral Limit: $20,500 (increased from $19,500 in 2021) Catch-Up Contributions: $6,500 (unchanged from 2021) 415 (Total) Plan Limit: $61,000 (increased from $58,000 in 2021) Compensation Limit: $305,000…
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Earlier this morning, the Internal Revenue Service issued various retirement plan limitations for 2021. Some of the most important limits remain unchanged from 2020: Elective Deferral Limit: $19,500 (unchanged from 2020) Catch-Up Contributions: $6,500 (unchanged from 2020) 415 (Total) Plan Limit: $58,000 (increased from $57,000 in 2020) Compensation Limit: $290,000 (increased from $285,000 in 2020)…
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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,…
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October 28, 2016 Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2017. There are only a few changes to the most important numbers from 2016, including: Elective Deferral Limit $18,000 Catch-Up Contributions $6,000 415 (Total) Plan Limit $54,000 Compensation Limit $270,000 See an up-to-date chart that shows the historical limits…
Read MoreEarlier today, the Internal Revenue Service issued the various retirement plan limitations for 2016. The most important numbers have not changed from 2015. Elective Deferral Limit—$18,000 Catch-Up Contributions—$6,000 415 (Total) Plan Limit—$53,000 Compensation Limit—$265,000 See an up-to-date chart that shows the historical limits from 2012 through 2016, and a reference to the IRS sources. For…
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