Posted on October 21, 2022 by Mary Ellen Schill
Blog
On October 21, 2022 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. All of the limits shown below have increased (in some cases significantly) from last year. Qualified Plan Limit Cost-of-Living Adjustments 401(k) and 403(b) elective deferral limit 2022 – $20,500 2023 – $22,500 $200,000 compensation limit […]
Posted on October 26, 2020 by Mary Ellen Schill
Blog
On October 26, 2020 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. Some of the limits shown below have increased from last year while others remained unchanged. Qualified Plan Limit Cost-of-Living Adjustments 401(k) and 403(b) elective deferral limit 2020 – $19,500 2021 – $19,500 $200,000 compensation limit […]
Posted on May 20, 2020 by Mary Ellen Schill
Blog
In a bit of a respite from COVID-19, today the IRS announced the Health Savings Account limits for 2021. With respect to contribution limits, the limits are slightly higher than the ones for 2020. As a reminder, these inflation adjusted amounts are effective for calendar year 2021. HSA/HDHP Requirement Cost-of-Living Adjustments Limit on HSA Contributions […]