Related to: IRS

403(b) Plan

A Second Chance for Your 403(b) Plan

On March 27, the Internal Revenue Service (“IRS”) extended the deadline by which most school districts and other eligible employers must restate their 403(b) plan documents. The new deadline is June 30, 2020. This new deadline is a welcome reprieve for employers who were not aware of the deadline or who were unable to complete…

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tax forms

Employee Benefits Update: IRS Benefit Plan Limitations

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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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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tax forms

Employee Benefits Update: IRS Benefit Plan Limitations

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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IRS Retirement Plan Limitations

EMPLOYEE BENEFITS UPDATE: IRS Retirement Plan Limitations

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…

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EMPLOYEE BENEFITS UPDATE: IRS Benefit Plan Limitations

Earlier 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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