Plan Limits for 2020

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The IRS updated the qualified retirement plan limits for 2020.  The salary deferral and catch-up contribution limits increased.  The maximum contribution, when adding employee deferrals and employer contributions, increased to $57,000 (or $63,500 for anyone age 50 or older).  For a full explanation, please click on the “Plan Limits” tab of our website. If you have any questions regarding the plan limits or your plan design, please don’t hesitate to contact us.