News & Analysis as of

Compensation & Benefits Contribution Limits

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

Littler

Puerto Rico Department of the Treasury Announces 2024 Limits on Qualified Retirement Plans

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On January 31, 2024, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans. Pursuant to...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

Bond Schoeneck & King PLLC

IRS Announces 2023 Retirement Plan and Other Benefit Limitations

The Internal Revenue Service announced the dollar limitations for retirement plans and other benefits, beginning January 1, 2023. Some of the limits are listed below....more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2023

On October 21, 2022, the Internal Revenue Service (IRS) released Notice 2022-55, which sets forth the 2023 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans....more

Littler

Puerto Rico Department of the Treasury Announces 2022 Limits on Qualified Retirement Plans

Littler on

On January 14, 2022, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 22-01 (CL IR 22-01) announcing the applicable 2022 limits for Puerto Rico qualified retirement plans. ...more

Kaufman & Canoles

Employee Benefits Client Alert – Retirement Plan Limitations, ACA Numbers and Limits, Premium Tax Credit Reference Guide, and...

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Kaufman & Canoles’ ESOPs & Employee Benefits Practice Group is pleased to provide the following reference materials as 2022 approaches...more

Snell & Wilmer

2021 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

Faegre Drinker Biddle & Reath LLP

IRS Announces 2022 Cost-of-Living Adjustments for Retirement Plans

The IRS recently announced the 2022 cost-of-living adjustments to various benefit and contribution limits applicable to retirement plans. Generally, the IRS increased the applicable limits for 2022, although certain limits...more

Williams Mullen

Benefit and Contribution Limits for 2022

Williams Mullen on

The Commissioner of Internal Revenue announced the 2022 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more

Clark Hill PLC

2021 Benefits Limits

Clark Hill PLC on

Happy Holidays! Employee benefits limits for 2021 have been promulgated by the government. ...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

Best Best & Krieger LLP

Making Sense of Your Retiree Health "Savings" Plan

Several municipal clients adopted retiree health savings plans or post-employment health plans, and continue to have questions about what they are and how they should be administered....more

Best Best & Krieger LLP

Taking Advantage of Governmental Retirement Plan Contribution Limits

Many governmental 457(b) deferred compensation and 401(a) defined contribution plan sponsors do not take full advantage of the contribution limits for these plans. To do this, you need to understand: the limits, who they...more

Littler

Puerto Rico Department of the Treasury Announces 2020 Limits on Qualified Retirement Plans

Littler on

On December 28, 2019, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 19-17 (CL IR 19-17) announcing the applicable limits for Puerto Rico qualified retirement plans for 2020....more

Akin Gump Strauss Hauer & Feld LLP

2020 Annual Benefit Plan Limits

The Internal Revenue Service (IRS) on November 6, 2019 announced the following cost of living inflation adjusted dollar limits applicable to tax-qualified plans and other benefit plans for 2020...more

Ward and Smith, P.A.

Retirement Plan Contribution Limits Will Increase in 2020

Ward and Smith, P.A. on

The Internal Revenue Service announced on Wednesday, November 6, that several contribution limits in qualified retirement plans will increase next year. The IRS announced the increases as part of an annual adjustment for...more

McDermott Will & Emery

IRS Announces 2020 Employee Benefit Plan Limits

McDermott Will & Emery on

The IRS recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2020. Nearly all of the dollar limits currently in effect for 2019 will...more

Seyfarth Shaw LLP

You Can Save More in Your 401(k) in 2020

Seyfarth Shaw LLP on

Seyfarth Synopsis: Many of the limitations that apply to tax-qualified plans, including 401(k) plans, are subject to cost-of-living increases. The IRS just announced the 2020 limits. 401(k) plan contribution limits are...more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2020

On November 6, 2019, the Internal Revenue Service (IRS) released Notice 2019-59, which sets forth the 2020 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more

Kilpatrick

IRS Updates Health and Fringe Benefit Plan Limits

Kilpatrick on

Health and Fringe Benefit Plan Limits - The IRS has updated various health and fringe benefit plan limits for 2019. A comparison of the 2019 and 2018 limits is listed below....more

Stinson - Benefits Notes Blog

IRS Annual Limits on Qualified Plans for 2019

IRS Annual Limits on Qualified Plans for 2019 By Jeffrey P. Cairns - The Internal Revenue Service has released the 2019 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified...more

Laner Muchin, Ltd.

The IRS Releases The Benefit Plan Limitations For 2016, Most Limits Remain The Same

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The Internal Revenue Service (IRS) recently announced the annual inflation adjustments for 2016 for qualified retirement plans, fringe benefits and health plans. This information may be found on the IRS' website and in...more

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