News | 11.07.19
IRS Raises 2020 401(k) Contribution Limit to $19,500
The IRS announced cost-of-living adjustments for 2020 to its limits on contributions to retirement plans. The limit on annual employee contributions to 401(k)s, 403(b)s, most 457 plans, and the Thrift Savings Plan will rise to $19,500 next year, up from $19,000 in 2019. The limit on contributions to IRAs is unchanged at $6,000.
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