News & Analysis as of

401k › Contribution Limits › Employee Contributions

BCLP

Prepare Now for Mandatory Roth Catch-Up

BCLP on

Proposed Treasury regulations relating to catch-up contributions were issued in January of 2025 that include guidance for the mandatory Roth catch-up requirement, which was first provided under section 603 of Division T of...more

Clark Hill PLC

2025 Benefits Limits

Clark Hill PLC on

Happy Holidays! Employee benefits limits for 2025 have been promulgated by the government. Click the link below to view 2024-2025 comparisons of important employee benefits limits....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Catching Up on 401(k) Catch-Up Changes for 2025

Ogletree, Deakins, Nash, Smoak & Stewart,... on

Under current law, most 401(k) plans permit catch-up contributions that are equally available to all participants who are age fifty or over. Starting in 2025, the SECURE 2.0 Act allows eligible participants who are ages...more

Bricker Graydon LLP

403(b) Plans - Not Your Average Salary Deferral Plan

Bricker Graydon LLP on

Congress continues to pass laws that move 403(b) plans ever closer to 401(k) plans, but 403(b) plans remain distinct. Understanding these differences allows you to maintain a compliant plan that best serves the needs of your...more

Seyfarth Shaw LLP

Want to Put More Away in Your 401(k)? Qualified Plan Limits Generally Increase in 2024

Seyfarth Shaw LLP on

Seyfarth Synopsis: The IRS just announced the 2024 annual limits that will apply to tax-qualified retirement plans. For a third year in a row, the IRS increased the annual limits, allowing participants to save even more in...more

Tucker Arensberg, P.C.

New Legislation Commonly Called “SECURE 2.0” was Recently Passed by Congress

Tucker Arensberg, P.C. on

New legislation commonly called “SECURE 2.0” was passed by Congress last week and signed into law on Tuesday by President Biden. The new legislation includes almost 100 different changes that are linked to retirement plans. ...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Seriously Spiked COLAs for Qualified Retirement Plans for 2023

Ogletree, Deakins, Nash, Smoak & Stewart,... on

Qualified retirement plans will experience unusually sharp increases to compensation and contribution limitations for 2023 compared to adjustments in recent years. On October 21, 2022, the Internal Revenue Service (IRS)...more

Best Best & Krieger LLP

Taking Advantage of Governmental Retirement Plan Contribution Limits

Best Best & Krieger LLP on

Many governmental 457(b) deferred compensation and 401(a) defined contribution plan sponsors do not take full advantage of the contribution limits for these plans. To do this, you need to understand: the limits, who they...more

Fisher Phillips

Solo 401(k) Plans Should Lead Highly Skilled Workers To Join Gig Economy

Fisher Phillips on

We reported last year about the importance of a new retirement system for the gig economy. Typical gig workers are currently not entitled to enjoy a traditional employer-based retirement plan because the law only permits such...more

BCLP

2019 Qualified Plan Limits Released

BCLP on

The Internal Revenue Service released the 2019 dollar limits for retirement plans, as adjusted under Code Section 415(d). We have summarized the new limits (along with the limits from the last few years) in the chart below...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

2016 IRS Retirement Plan Limits

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

The Internal Revenue Service (IRS) announced their retirement plan contribution limits for 2016 and they remain the same limits as 2015. The IRS said the 402(g) salary deferral contribution limits for employees participating...more

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