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IRS Announces Higher 2020 Retirement Plan
The IRS has announced the inflation-adjusted figures for retirement account savings and other cost-of-living changes in Notice 2019-59 effective January 1, 2020. 2020 Highlights 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan: limits increased by $500 from $19,000 in 2019 to $19,500 in 2020 The catch-up contribution: limit for employees over End excerpt
