401(k) Contribution Limit Increases to $19,500 for 2020; Catch-up Limit Rises to $6,500

On November 24, 2019   /   Internal Revenue Service, Rascon CPA Firm, Retirement Planning, Tax Legislation, Tax Planning  
401(k) Contribution Limit Increases to $19,500 for 2020; Catch-up Limit Rises to $6,500

The Internal Revenue Service today announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. The IRS announced this and other changes in Notice 2019-59, posted today on IRS.gov. This guidance provides cost of living adjustments affecting dollar limitations for pension

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