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.
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