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ARTICLE · 15 NOVEMBER 2019

IRS Announces 2020 Employee Benefit Plan Limits

McDermott Will & Emery
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The IRS recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2020.

United StatesEmployment and HR
Jeffrey M. Holdvogt
Jeffrey M. Holdvogt
Jacob Mattinson
Jacob Mattinson
Brian Tiemann
Brian Tiemann
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The IRS recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2020. Nearly all of the dollar limits currently in effect for 2019 will experience minor increases for 2020.

Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2020. The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2019 and 2020.1

RETIREMENT PLAN LIMITS

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