
2021 Plan Limits – IRS Announces Increases on Benefits and Contributions Dollar Limitations
Posted by Saaib T. Uppal, CPA, QKA The IRS has announced cost-of-living adjustments that should be noted for retirement planning purposes. Below is a chart that outlines employee benefit plan limits for 2021: PLAN LIMITS RETIREMENT & SOCIAL SECURITY 2021 Limit 2020 Limit 2019 Limit Section 401(k), 403(b), 457(b) elective deferrals $19,500 $19,500 $19,000 401(k) or 403(b) catch up contributions … Continued