IRS Releases Comprehensive Guidance on Various SECURE 2.0 Act Provisions On Dec. 20, 2023, the IRS issued Notice 2024-2, providing guidance in the form of questions and answers with respect to various provisions of the legislation known as the “SECURE 2.0” Act. SECURE...
The Internal Revenue Service (IRS) has released Notice 2021-61, containing cost-of-living adjustments for 2022 that affect retirement contribution limits for employee 401(k) plans and individual retirement accounts (IRAs). 2022 401K and IRA Contribution Increases The...
The Internal Revenue Service (IRS) has released their 2021 retirement plan limits via Notice 2020-79, containing cost-of-living adjustments for 2021 that affect amounts employees can contribute to 401(k) plans and IRAs, most of which remain unchanged. Key limits that...
The Coronavirus, Aid, Relief, and Economic Security (CARES) Act was signed into law last week to help boost the economy with funds available for individuals and businesses. The CARES Act also includes several provisions regarding qualified retirement plans such as...
2019 limits for retirement plans and other benefits have been announced by the IRS. The amounts employees can contribute to 401(k)s and IRAs will increase in 2019. In particular: The employee contribution limit for 401(k) plans will be $19,000, up from $18,500 in...