Related to: Benefit Plans 2020

IRS Benefit Plan Limitations for 2020

Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2020.  There are changes to some of the most important limitations 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…

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