By Nicholas Economos, CRPS® Earlier this month, the Internal Revenue Service announced cost‑of‑living adjustments and increased retirement plan contribution limits for tax year 2020. The IRS raised the 401(k) contribution limit by $500 to $19,500, but the limit on contributions to individual retirement accounts remains $6,000. For plan participants aged 50 and over, the 401(k) catch-up contribution limit will also […]
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