NEW 2020 Retirement Plan Contribution Limits!

NEW 2020 Retirement Plan Contribution Limits!

November 14, 2019
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The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. For company retirement plans, the most recognized highlight is the 401(k) contribution limit increase to $19,500 for the new year.

Click here to access the full list of contribution limit changes.

This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements and you should consult your attorney or tax advisor for guidance on your specific situation.