2020 Deduction Limits

Nov 06, 2019

2020 Qualified Plans Deduction LimitsMVP Plan Administrators, Inc. is pleased to announce the Pension Plan Limitations for 2020.Elective Deferrals 402(g) for 401(k), 403(b) and 457 Plans – This limit is combined for Roth or Pre-tax deferral elections. The limit on elective deferrals (again a combined Roth or pre-tax) for participants in 401(k), 403(b) and 457 plans (excluding SIMPLE plans) is increased from $19,000 to $19,500.Catch-up contributions 414(v)(2)(B)(i) – A participant ...