IRS Announces 2016 Pension Plan Limitations
The IRS today in IR-2015-118 announced the cost of living adjustments for 2016 with respect to the dollar limitations for pension plans and other retirement plan related limitations. There are not a lot of changes from 2015. For example, there is no change to what participants can contribute to a 401k plan ($18,000) and no change in the 401k catch up contributions for participants age 50 and over ($6,000). Click here to view IR-2015-118. Please contact Jan G. Marsh at 678.336.7135 or Donald S. Kohla at 678.336.7140 if you have any questions on these adjustments.
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