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Tag Archives: retirement plans

IRS Sets Retirement Savings Contribution Limits for 2025 by Tony Gutierrez, CPA

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Posted on January 09, 2025 by Anthony Gutierrez

Taxpayers can contribute more pre-tax dollars to their employer-sponsored retirement savings plans in 2025, but their contributions to Individual Retirement Accounts (IRAs) remain unchanged from the previous year. Employer-Sponsored Retirement Plans In 2025, employees may contribute up to $23,500 to a workplace 401(k), 403(b) and certain 457 plan, a $500 increase from the previous year. […]

401(k) Plan Sponsors Get More Time to Adopt Amendments by Melissa Fleitas, CPA

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Posted on September 20, 2022 by Melissa Fleitas

Under recent guidance issued by the IRS, retirement plans, including 401(k)s, certain 403(b) plans and individual retirement accounts (IRAs), have additional time to adopt required amendments incorporating new legislation introduced in 2019 and 2020. The new deadline for non-governmental calendar-year plans to adopt these amendments has been postponed from December 31, 2022, to December 31, […]