IRS Announces Increases in 2020 Retirement Plan Limits
November 6, 2019
Each year, the IRS makes cost-of-living adjustments that change the limits placed on contributions to retirement plans. On November 6, 2019, the 2020 limitations for retirement plans and other retirement-related items were announced. Plan sponsors and employers must ensure that they are current on these limits, in order to be compliant and avoid penalties or corrections later. The charts below outline the most common retirement plan limits. There may be others that are also applicable.
[table id=25 /]
[table id=26 /]
If you have any questions and would like to connect with a team member please call 404-874-6244 or contact an advisor below.CONTACT AN ADVISOR
Subscribe to our newsletters to get inside access to timely news, trends and insights from Smith + Howard.