Most years, the only thing we have to worry about when it comes to retirement plan administration is adjusting for the cost-of-living increase to contribution limits. Some years we don’t even have that, but this year is an exception with that, plus major changes you will need to make and consider. So first, the easy stuff. The cost-of-living increase, to the maximum amount an individual can contribute to their 401(k), 403(b), governmental 457 and the Thrift Savings plans, will be increased to $23,500, up from $23,000 in 2024. The catch-up contribution will remain at $7,500 and the limit on annual…
Posts tagged as “Secure Act 2.0”
Looking for information on what to do for year end? Need information on Secure Act 2.0? Watch this webinar replay.