The Internal Revenue Service has announced the cost-of-living adjustments applicable to dollar limitations for various qualified retirement plans and other amounts for 2020. While the pension plan deferral and catch-up limits did not change, many of the annual pension plan limits and compensation thresholds did. Plan sponsors should verify that their administrative and payroll systems reflect the appropriate limits. Communications that specify benefit plan limits should be reviewed for accuracy before materials are given to participants.

View the Employee Benefit Plan and IRA Quick Reference Table.

 

 

 

 

 

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Matt Eckelberg
I joined the firm in 1997 as an intern and since have advanced to partner. I have thorough experience in both audit and tax, and provide these services to commercial entities, individuals and profit-sharing 401(k) plans.

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