IRS Releases 401(k) and Pension Plan Limitations for 2021

​The Internal Revenue Service (IRS) Notice 2020-79 announces cost of living adjustments affecting dollar limitations for 401(k), pension plans and other retirement-related items for tax year 2021.

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $19,500.

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