401(k) Contribution Limit Increases for 2020

By NSA Blogger posted 10 days ago

  

IRS Notice 2019-59, published today, announced changes to dollar limitations applicable to qualified retirement plans as adjusted for cost-of-living adjustments for 2020. Now, employees enrolled in 401(k), 403(b), and the majority of 457 plans may contribute up to $19,500 towards their retirement.

Details of the retirement savings changes can be found here.

Download the IRS press release here.

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