IRS Announces Retirement Plan Contribution and Benefit Limits for 2020
On Nov. 6, 2019, the IRS issued Notice 2019-59 announcing the various cost-of-living adjusted limits for 2020. The limits affect pension plans and other retirement-related items for the 2020 tax year.
Below is a chart providing the 2020 limits for some of the most common retirement plans. The following adjustments take effect on Jan. 1, 2020.
In This Article
You May Also Like
In Bittner v. United States, Supreme Court Delivers Non-Willful FBAR Penalty Relief Nonprofit M&A: Practical Considerations for Nonprofits Exploring Mergers and Acquisitions