News & Analysis as of

403(b) Plans Cost-of-Living Adjustment (COLA)

Pullman & Comley, LLC

New Dollar Limits Applicable to Retirement Plans for 2024

Pullman & Comley, LLC on

The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2024. Many...more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2024

On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75, which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more

BCLP

IRS Releases 2024 Adjusted Qualified Plan Limitations

BCLP on

The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan and welfare plan limitations effective January 1, 2024. For ease of reference and comparison to prior years, we have placed the...more

Tucker Arensberg, P.C.

Benefits Alert - November 2023

Tucker Arensberg, P.C. on

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2024....more

Parker Poe Adams & Bernstein LLP

IRS Announces 2024 Dollar Limitations for Retirement Plans

The IRS has announced the 2024 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines, with increases in many of the limits. The annual limit for elective deferrals to...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

2024 Will See Modest COLAs for Qualified Retirement Plans

On November 1, 2023, the 2024 calendar year cost-of-living adjustments to the contribution and compensation limits for tax-qualified retirement plans were released by the Internal Revenue Service (IRS) in Notice 2023-75....more

Bricker Graydon LLP

Widespread Retirement Plan Limit Changes for 2024

Bricker Graydon LLP on

The IRS released its annual update for the cost-of-living adjustments for 2024. Similar to the adjustments made last year, there are widespread increases for 2024. ...more

Jackson Lewis P.C.

2024 Cost of Living Adjustments for Retirement Plans

Jackson Lewis P.C. on

The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective for Tax Year 2024 (see IRS Notice...more

Snell & Wilmer

2022 End of Year Plan Sponsor “To Do” List (Part 2) Annual Cost of Living Adjustments

Snell & Wilmer on

As is tradition, we are happy to present our End of Year Plan Sponsor “To Do” Lists. We are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered year-end health and welfare plan issues. This...more

Foster Swift Collins & Smith

IRS Announces 2023 Cost-of-Living Adjustments for Retirement Plans and for Health and Welfare Benefit Plans

The IRS has announced the 2023 cost-of-living adjustments for retirement plan and health and welfare benefit plan limitations. The charts below set forth the applicable limitations....more

Venable LLP

2023 Dollar Limits on Compensation and Benefits

Venable LLP on

The Internal Revenue Service (IRS) has announced 2023 dollar limits on benefits, contributions, and compensation. The Internal Revenue Code (Code) affords tax benefits for employers that sponsor qualified plans and for...more

Parker Poe Adams & Bernstein LLP

IRS Announces 2023 Dollar Limitations for Retirement Plans

​​​​​​​The IRS has announced the 2023 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines, with increases in many of the limits. The annual limit for elective deferrals...more

Davis Wright Tremaine LLP

IRS Releases 2023 Cost-of-Living Adjusted Limits for Benefit Plans

The Internal Revenue Service recently announced 2023 dollar limits for qualified retirement plans (including 401(k) plans), deferred compensation plans, and health, and welfare plans. Adjustments to certain limits are based...more

Ruder Ware

2023 Qualified Plan Cost of Living Increases, 2023 Social Security Taxable Wage Base

Ruder Ware on

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...more

McDermott Will & Emery

IRS Announces 2023 Employee Benefit Plan Limits

McDermott Will & Emery on

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social...more

Pullman & Comley, LLC

IRS Cost of Living Adjusted Dollar Limits Applicable to Retirement Plans for 2022

Pullman & Comley, LLC on

The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2022. Many...more

Tucker Arensberg, P.C.

IRS and SSA Announce 2021 Indexed Numbers

Tucker Arensberg, P.C. on

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2022....more

Parker Poe Adams & Bernstein LLP

IRS Announces 2022 Dollar Limits for Retirement Plans

The IRS has announced the 2022 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines, with increases in many of the limits. The annual limit for elective deferrals to...more

BCLP

IRS Releases 2022 Adjusted Qualified Plan Limitations

BCLP on

The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan limitations effective January 1, 2022. For ease of reference and comparison to prior years, we have placed the adjusted limitations...more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2022

On November 4, 2021, the Internal Revenue Service (IRS) released Notice 2021-61, which sets forth the 2022 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans.  The...more

Ruder Ware

2022 Qualified Plan Cost of Living Increases, 2022 Social Security Taxable Wage Base

Ruder Ware on

On November 4, 2021 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. The vast majority of the limits shown below have increased from last year....more

Holland & Hart - The Benefits Dial

Easy Money…2022 IRS Limits Announced Today

The IRS has announced the 2022 cost of living adjustments to qualified plan limits. As expected, many of the limits increased significantly compared with prior years. Below are the highlights, and our full historical chart...more

Pullman & Comley, LLC

IRS Announces Cost of Living Adjustment (COLA) Limits for 2021 Applicable to Retirement Plans

Pullman & Comley, LLC on

The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2021. A few...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

COLAs in the Time of COVID-19

On October 26, 2020, the Internal Revenue Service (IRS) updated various dollar limitations that apply to tax-qualified retirement plans for 2021. The new amounts, published in Notice 2020-79, are annually adjusted for cost of...more

Parker Poe Adams & Bernstein LLP

IRS Announces 2021 Dollar Limits for Retirement Plans

The IRS has announced the 2021 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines. The annual limit for elective deferrals to 401(k) plans and 403(b) plans will remain...more

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