Cost of Living Adjustments for Pension Plans and Retirement-Related Items for 2020
By Audit & Assurance On November 6, 2019, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2020 tax year. Changes to the limits are based on the Social Security cost-of-living increases. Below are the new 2020 plan limitations: 2020 2019 401(k), 403(b) and 457(b) deferral …
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