January 2026 The IRS has announced the retirement plan limitations for 2026. Limitations which apply to Pension Plans (including Profit Sharing and 401(k) Plans) for the Year 2026 are: Annual Compensation Limit for Plan purposes$360,000 (increased from $350,000)Highly Compensated Employee
Mandatory Roth Catch-Ups for High Earners
2025 DOLLAR LIMITATIONS
The IRS has announced the retirement plan limitations for 2025. Limitations which apply to Pension Plans (including Profit Sharing and 401(k) Plans) for the Year 2025 are: Annual Compensation Limit for Plan purposes$350,000 (increased from $345,000)Highly Compensated Employee
2024 DOLLAR LIMITATIONS FOR 401(K) PLANS
The IRS has announced the retirement plan limitations for 2024. Limitations which apply to Pension Plans (including Profit Sharing and 401(k) Plans) for the Year 2024 are: Annual Compensation Limit for Plan purposes$345,000 (increased from $330,000)Highly Compensated Employee
2023 DOLLAR LIMITATIONS
The IRS has announced the retirement plan limitations for 2023. Limitations which apply to Pension Plans (including Profit Sharing and 401(k) Plans) for the Year 2023 are: Annual Compensation Limit for Plan purposes$330,000 (increased from $305,000)Highly Compensated Employee
2022 Contribution Limits for 401k Plans
The IRS has released the 2022 Contribution Limits for 401(k) and other retirement plans. IRS Notice 2021-61 was issued on November 4, 2021. Participants of 401(k) and 403(b) Plans will be able to defer up to $20,500 (increased from $19,500), and, if age 50 or older, an additional $6,500 (no change)
CYCLE 3 DOCUMENT RESTATEMENTS: WHAT YOU NEED TO KNOW
New laws, regulations and other guidance require that your Qualified Retirement Plan be “restated” to bring it up to date. The IRS has established a Cycle for plan restatements. For IRS Pre-approved documents, that cycle occurs every 6 years. We are now in Cycle 3. The
DOES YOUR BUSINESS HAVE A DISASTER PLAN IN PLACE?
Hurricane Season begins June 1st. Those of us who live and work on the Gulf Coast know that hurricanes can disrupt our lives. The Escambia County Emergency Management Center’s Website has a “Building-A-Disaster” kit. This lists the items needed to prepare your home, work and