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IRS Increases Retirement Plan Contribution and Benefits

The IRS announced its cost of living adjustments applicable to dollar limitations on benefits and contributions for retirement plans effective for Tax Year 2023. The limitation on annual salary deferrals into a 401k or 403b plan will increase from $20,500 to $22,500.

2023 Cost of Living Adjustments for Retirement Plans | Jackson Lewis P C

The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective.

IRS COLA for Tax Year 2022 Retirement Plans

Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective for Tax Year 2022 see IRS Notice 2021-61.

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