IRA

The IRS has announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. This also applies to 403(b), most 457 plans, and the federal government's Thrift Savings Plan. Also increasing is the catch-up contribution limit...

28 October, 2022

WASHINGTON — The Internal Revenue Service announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2021 in Notice 2020-79, posted on IRS.gov. Highlights of changes for 2021   The income ranges for determining eligibility to make deductible contributions to traditional Individual...

20 November, 2020