On Thursday, October 19th, the IRS announced new statutory limits for the upcoming 2018 year. The most important changes applicable to retirement plans are outlined below. After holding the line for a couple of years, the IRS increased the employee elective deferral limit (the §402(g) limit) from $18,000 to $18,500, for contributions to 401(k) and […]
The IRS announced yesterday the new limits for 2014. The most important changes applicable to retirement plans are outlined below. The §415(c)(1)(A) limit on total contributions to a defined contribution plan was increased from $51,000 to $52,000. The §415(b)(1)(A) limitation on the annual benefit under a defined benefit pension plan increased from $205,000 to $210,000. […]
As a result of the dreaded fiscal cliff negotiations, on January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012. One of the provisions of this bill was to expand in-plan Roth conversions. These new provisions may appeal to individuals who expect their tax rates to increase or to wealthy individuals who want […]
Finally, cost of living adjustment (COLA) figures have moved enough to cause retirement plan contribution limits to rise after remaining the same for three years in a row. On October 20, 2011, the IRS announced the new limits for 2012. The elective deferral (employee contribution) limit increases from $16,500 to $17,000 for 401(k), 403(b) and […]
We are pleased to announce that Jeff Polchlopek, who has been with the firm for over 10 years, was promoted to partner at Caron & Bletzer, PLLC. Jeff is an audit partner in the ERISA practice, and runs many of the firm’s more complex employee benefit audits. His practice has a particular emphasis on clients […]
