Chart: 2018 Cost-of-Living Adjustments to Contribution Limits for Retirement Plans - December 4, 2017

  Compare limitation types for 2018 vs. 2017: View PDF  

IRS Announces 2018 Cost-of-Living Adjustments to Retirement Plan Contribution Limits - October 30, 2017

  The IRS has just announced the 2018 Cost-of-Living Adjustments to Contribution Limits for Retirement Plans:   The Salary Deferral Limit for 401(k), 403(b), and 457(b) plans has increased from $18,000 to $18,500.  The Catchup Contribution Limit remains at $6,000 The Contribution Limit for Traditional IRAs and Roth IRAs remains at $5,500.  The Catchup Contribution …

Lifetime Income Through Target Date Funds in 401(k) Plans - January 5, 2015

This fall, the Internal Revenue Service (IRS) released Notice 2014-66, which outlines how target date funds that include deferred annuities in their assets can be used in 401(k) plans. Although each target date fund must be made available in a nondiscriminatory manner, a series of target date funds in a plan that restricts participation in …

Internal Revenue Service Clarifies One-Per-Year Limit on IRA Rollovers - December 29, 2014

Recently, the Internal Revenue Service (IRS) issued additional guidance (IR-2014-107) with regard to the new “One-Per-Year” Limit on IRA rollovers, which goes into effect on January 1, 2015. 1. The U.S. Tax Court decision, made earlier this year, will limit an individual to making only one tax-free rollover in any one-year period, even if the …

FATCA Relief under IRS Notice 2014-33 - August 28, 2014

In Notice 2014-33, issued on May 2, 2014, the IRS has offered some relief with regard to compliance with the Foreign AccountTax Compliance Act (FATCA).  The IRS has stated that calendar years 2014 and 2015 will be treated as transition years for IRS enforcement of due diligence, reporting, and withholding under FATCA and that the …

Internal Revenue Service Issues Announcement 2014-15 - August 5, 2014

Recently, the Internal Revenue Service (IRS) issued Announcement 2014-15, which redefines the application of the one-rollover-per-year rule for Individual Retirement Accounts (IRAs). Previously, the IRS had maintained (and had published in IRS Publication 590) that the one-rollover-per-year rule applied to IRAs on an IRA-by-IRA basis. This spring, the US Tax Court made a decision that …

American Taxpayer Relief Act of 2012 - March 7, 2013

In-Plan Conversions to Roth Accounts The American Taxpayer Relief Act of 2012 includes a provision that allows defined contribution retirement accounts not otherwise distributable to be converted within the plan to Roth accounts.  Previously, only amounts that were deemed distributable (such as when the participant attained age 59½) could be converted to in-plan Roth accounts. …

Qualified Charitable Distributions Reinstated - March 7, 2013

Beginning in 2006, the IRS permitted taxpayers who had attained age 70½ to make “IRA Charitable Rollovers” or Qualified Charitable Distributions (QCDs) directly to eligible charities (including colleges and universities) of up to $100,000 in total annually.  This legislation expired at the end of 2011.However, the American Taxpayer Relief Act of 2012 (ATRA) has reinstated …

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