The IRS announces savings adjustments

The IRS annually adjusts the maximum amounts that employees can save in their 401(k) plans. This chart (borrowed from SHRM) shows the defined contribution plan changes.   Defined Contribution Plan Limits 2019 2018 Change Maximum employee elective deferral* $19,000 $18,500 +$500 Employee catch-up contribution (if age 50 or older by year-end)** $6,000 $6,000 No change …

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Confiscating Individual Retirement Accounts: An Awarenss Alert!

Congress confiscating individual retirement accounts? Sounds outragous doesn’t it? Well this article in the Carolina Journal Online shows that it is being considered. I had heard that Congress was considering taxing retirement accounts, but this proposal to seize them all and put them into a social security like program is unthinkable. But then lots of …

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