Christine Hradsky No Comments

2019 Cost-of-Living Adjustment for Qualified Retirement Plans

The table below summarizes key 2019 cost-of-living adjustments (COLA) for pension plans and selected other items announced by the Internal Revenue Service. In general, annual compensation amounts and limits for elective deferrals were increased, while catch-up contribution limits remain unchanged. The Social Security Administration separately announced the taxable wage base for 2019, which is also included below. Read more

Christine Hradsky No Comments

Employee Benefit Plans- Cost of Living Update

2018 COST-OF-LIVING ADJUSTMENTS FOR QUALIFIED RETIREMENT PLANS

The Internal Revenue Service has announced the cost-of-living adjustment (COLA) for 2018. The dollar limitations for pension plans and selected other items are displayed in the associated graph. Certain annual compensation amounts were increased, including the limit for elective deferrals, which have not been updated since 2015. The Social Security Administration separately announced an increase to the taxable wage base. Read more