Each year, the IRS sets limits for pension plans. These limits are reviewed annually and adjusted for inflation. The following are some important pension limits in effect for 2018:
Maximum compensation for plan purposes is $275,000
Maximum monthly benefit for defined benefit plans ages 62 to 65 is the lesser of 100% of compensation or $18,333 with an annual benefit $220,000
Maximizing Retirement Planning, Tax Efficiency, and Business Succession In recent years, cash balance plans, which blend elements of defined benefit pension and profit-sharing plans, have emerged as a valuable retirement...
The Complexities and Opportunities in Long-Term Part-Time Employee Regulations In a significant development, the Department of the Treasury and the Internal Revenue Service published proposed regulations setting forth rules for...
The retirement landscape for small businesses underwent a significant transformation with the passage of the SECURE 2.0 Act. Aimed at enhancing retirement readiness and promoting the adoption of employer-sponsored plans,...