2020 Retirement Plan Limits
Recently, the Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increasing from $19,000 to $19,500 in 2020. Additional information regarding the new limitations can be found in the table below.
401(k) Plan Limits
Non-401(k) Related Plan Limits
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