IRS Announces Adjusted Plan Limits For 2021 - Employment and HR
To print this article, all you need is to be registered or login on Mondaq.com. The Internal Revenue Service has announced cost-of-living-adjusted limits for 2021 that affect the operation of tax-qualified retirement plans, including 401(k) plans and certain other types of employee benefit plans, including deferred compensation plans that may be subject to Internal Revenue Code §409A. The amount by which the limits are adjusted each year is based on a cost of living index. Not all limits increase every year. In connection with the increased limits for 2021, employers ...
Source: mondaq.com