Nov 6, 2019
Each year, the Internal Revenue Service publishes updated dollar limitations for tax-qualified defined benefit and defined contribution plans. The limits are important for tax-qualified plans, as well as many non-qualified plans.
The IRS announced recently that there will be cost of living adjustments (COLA) to certain of the qualified plan limitations described below for 2020.
You may view the complete list of updated limits here. Should you have any questions, please contact your Newport Group representative.