Each year, the IRS sets limits for pension plans. These limits are reviewed annually and adjusted for inflation. Here are some of the 2017 pension limits:
Maximum compensation for plan purposes is $270,000
Maximum monthly benefit for defined benefit plans ages 62 to 65 is the lesser of 100% of compensation or $17,916 with an annual benefit $215,000
Overview Many employee benefits are subject to annual dollar limits that are occasionally increased due to inflation. The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the annual dollar...
On June 23, 2020, the Department of Labor issued a proposed rule addressing the circumstances under which a fiduciary of a qualified retirement plan can base investment decisions on socially...
On June 19, 2020, the IRS issued Notice 2020-50, expanding the relief for Coronavirus-Related Distributions (CRDs) from qualified retirement plans provided by the Coronavirus Aid, Relief, and Economic Security Act...