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2023 401(k) Contribution Limit Increases to $22,500; Catch-Up to $7,500

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David Torrillo
Monday, October, 24, 2022 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS also announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2023 in Notice 2022-55. Read More
401(k)403(b)Defined Benefit PlansIRSPension Plansretirement savings

IRS provides Guidance on SECURE Act that Increases Automatic Enrollment Cap Percentage and Eases Burdens for Certain Safe Harbor Plans

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David Torrillo
Thursday, December, 10, 2020 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Internal Revenue Service recently issued Notice 2020-86 addressing certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) affecting safe harbor plans, including safe harbor 401(k) plans and certain 403(b) plans. Read More
401(k)IRSretirement savings

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

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David Torrillo
Wednesday, November, 06, 2019 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. The IRS announced this  contribution limit and other changes in Notice 2019-59, posted on IRS.gov. Read More
401(k)403(b)Defined Benefit PlansIRSPension Plansretirement savings

DOL Announces Final Rules for ARPs

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David Torrillo
Wednesday, July, 31, 2019 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases
The Department of Labor issued Final rules for ARPs. The Department of Labor (DOL) has issued final regulations which make it easier for small businesses to provide retirement savings plans through “association retirement plans” (ARPs), by allowing small businesses to band together to offer 401(k) and other defined contribution plans to their employees. Read More
ARPsretirement savings

401(k) Contribution Limit Increases to $19,000 for 2019; IRA limit increases to $6,000

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David Torrillo
Thursday, November, 01, 2018 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Internal Revenue Service on November 1, 2018 announced cost of living adjustments affecting the dollar limit for pension plans and other retirement-related items for tax year 2019.  The IRS today issued technical guidance detailing these items in Notice 2018-83. Read More
401(k)403(b)Defined Benefit PlansIRSPension Plansretirement savings

Tax Cuts & Jobs Act – Impact on Retirement Plans

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David Torrillo
Thursday, December, 21, 2017 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b), Uncategorized
Below are the key retirement plan provisions under the Tax Cuts & Jobs Act, per Thomson Reuters Tax & Accounting, Checkpoint Special Study on Pension and Benefit Changes in the “Tax Cuts and Jobs Act.” Read More
401(k)403(b)IRSretirement savings

IRS Announces 2018 Pension Plan Limitations; 401(k) Contribution Limit Increases to $18,500 for 2018

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David Torrillo
Thursday, October, 19, 2017 / Published in Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018, including that the 401(k) contribution limit increases to $18,500 for 2018.  Read More
401(k)403(b)Defined Benefit PlansIRSPension Plansretirement savings
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Recent Posts

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Categories

  • Employee Benefit Plans
  • Forms and Procedures
  • News and Press Releases
  • Policy Updates
  • Retirement – 401(k), 403(b)
  • Uncategorized

Torrillo & Associates, LLC specializes in employee benefit plan audits, 401k audits, 403b audits, pension plan audits, and retirement plan audits. We are licensed in 7 states including New York, New Jersey, and Pennsylvania.  With firm mobility, we are also able to practice in an additional 27 states.

36 Regency Plaza
Glen Mills, PA 19342

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