Dollar Limits on Compensation and Benefits Announced

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The Internal Revenue Service has announced the 2016 cost-of-living adjustments for various limits affecting employee benefit plans with very little change. The more common limits are detailed below for 2015 and 2016.

The above table includes the limits for 401(k) & 403(b) Elective Deferrals, Catch-Up Contribution for Participants Age 50 and Over, Defined Contribution Plans-IRC 415 (Including SEP and Keogh Plans), Maximum Benefit for Defined Benefit Plans, SIMPLE Retirement Plans: Elective Deferrals and Catch-Up Contribution for Participants Age 50 and Over, Maximum Annual Compensation for Determining Contributions and Benefits, Compensation Limit for Key Employee Determination, Compensation Limit for Highly Compensated Determination, …read more

Read more here:: Beyond The Numbers

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Carrie Sherreard has written 56 post in this blog.

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