Nov 04, 2021
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 2022:
2022 Cost of Living Adjustments
|Dollar Limit on Elective Deferrals
|Catch-up Contribution Limit
|Annual Compensation Limit
|Section 415 Annual Additions Limit
|Highly Compensated Employee
|Key Employee (Officers)
You may view the complete list of updated limits here.
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