The SECURE (Setting Every Community Up for Retirement Enhancement) Act was signed into law on December 20, 2019. Provisions of the SECURE Act include • expansion of Multiple Employer Plans, • modifications to the rules on Required Minimum Distributions (RMD), • permitting plan withdrawals for
2020 Contribution Limits for 401(k) Plans
The IRS has released the 2020 Contribution Limits for 401(k) and other retirement plans. IRS Notice 2019-59 was issued on November 6, 2019. Participants of 401(k) and 403(b) Plans will be able to defer up to $19,500, and, if age 50 or older, an additional $6,500 in catch-up contributions. For