News & Analysis as of

Internal Revenue Code (IRC) Contribution Limits Cost-of-Living Adjustment (COLA)

Venable LLP

2025 Dollar Limits on Compensation and Benefits

Venable LLP on

The Internal Revenue Service (IRS) has announced 2025 dollar limits on benefits, contributions, and compensation. The Internal Revenue Code (Code) affords tax benefits for employers that sponsor qualified plans and for...more

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

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

Cooley LLP

IRS Announces Adjusted Plan Limits for 2023

Cooley LLP on

The Internal Revenue Service has announced cost-of-living-adjusted limits for 2023 that affect the operation of tax-qualified retirement plans, including 401(k) plans and certain other types of employee benefit plans, such as...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

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

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

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

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