Never Too Early for New Year’s Resolutions

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Posted by Saaib Uppal, CPA

Every year, right around December 31st (and closer to January 1!), we sit down and start to draft up resolutions for the upcoming new year. Whether it’s aiming for a healthier life style, setting aside for targets at work, or perhaps being more fiscally responsible, it’s important to not only make these goals, but to have a plan in place for accomplishing them as well.

Thanks to a recent IRS announcement, we have the relevant information required for the latter category.

Below is a chart that outlines employee benefit plan limits for 2016:

2116 Plan Contribution Limits

Plan administrators should ensure that they pass along this new information to their participants so that they can ensure they have all the required information in planning out 2016.

Contact Us

If you have questions or seek additional information on this subject, please contact our Employee Benefit Plan Team.

Maria T. Hurd, CPA
Director/Shareholder
Retirement Plan Audit Services
mhurd@belfint.com
302.573.3918

Chris J. Ciminera, CPA, QKA
Manager – Accounting & Auditing
cciminera@belfint.com
302.573.3953

Disclaimer: This blog post is valid as of the date published.


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Belfint Lyons Shuman is a Certified Public Accounting (CPA) firm that audits Defined contribution plans (profit-sharing, 401(k), 403(b) , 401(a), 457(b))), and Defined benefit plans (pension and cash balance), and Health and welfare plans. We serve a variety of plan sponsors including for-profit, nonprofit, governmental, and Taft-Hartley collectively-bargained plans located in Delaware, Pennsylvania, New Jersey, Maryland, Washington, D.C., Virginia, Massachusetts, and nationally. For additional information contact us at info@belfint.com