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cost of living adjustments for 2020

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2021 Cost of Living Adjustments for Retirement Plans

By Keith A. Dropkin on November 6, 2019
Posted in Dealing with the IRS on Employee Benefit Issues, defined benefit, defined contribution, FSA, HRA, IRS, IRS Limits, Medical Flexible Spending Account, Required Minimum Distributions, Retirement plans, Roth Conversion, Uncategorized

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 2021 (see IRS Notice 2020-79). Most notably, many of the retirement plan limitations, including the limitation on annual salary deferrals into a 401(k) or 403(b) plan, remain unchanged. The…

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