Dickinson Wright is a general practice business law firm with more than 475 attorneys among more than 40 practice areas and 16 industry groups. With 19 offices across the U.S. and in Toronto, we offer clients exceptional quality and client service, value for fees, industry expertise and business acumen.
The IRS has announced the annual limits that will apply to qualified retirement plans in 2020. The key 2020 limits, as compared to the 2019 limits, are:
United States
The IRS has announced the annual limits that will apply to
qualified retirement plans in 2020. The key 2020 limits, as
compared to the 2019 limits, are:
For 401(k) plans, the maximum deferral limit increases by $500
to $19,500 for a participant who is under age 50. A participant who
is age 50 or older will be able to defer a maximum of $26,000
($19,500 + $6,500 catch-up), a $1,000 increase from 2019.
Contributor
Dickinson Wright is a general practice business law firm with more than 475 attorneys among more than 40 practice areas and 16 industry groups. With 19 offices across the U.S. and in Toronto, we offer clients exceptional quality and client service, value for fees, industry expertise and business acumen.
