Related to: IRS Benefit Plan Limitations

Employee Benefits Update: IRS Benefit Plan Limitations

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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Matt Flanary

2019 IRS Retirement Benefit Plan Limitations

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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