Related to: IRS Benefit Plan Limitations
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…
Read MoreEarlier 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…
Read MoreLate 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…
Read MoreEarlier 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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