NEW! Supplemental Retirement annual limits increased for 2019

Posted by Kathy Orndorff on 10/22/2017

2020 Defined Contribution Plan Limits Increase

In Notice 2019-59, the IRS highlighted Defined Contribution Plan limit adjustments taking effect on January 1, 2020, for 403(b) and most 457 plans.  In 2020, the maximum employee elective deferral amount increases to $19,500 – a $500 increase from 2019.  For participants ages 50 and over, the additional “catch-up” contribution limit will increase to $6,500.