The IRS has announced the 2009 cost-of-living adjustments to dollar limitations for pension plans and other items. The new 401(k) deferral limit will be increased from $15,500 to $16,500. The annual benefit under a defined benefit plan will be increased from $185,000 to $195,000 and the annual limitation for defined contribution plans will be increased from $46,000 to $49,000.
IRS Announces Pension Plan Limitations for 2009
The IRS has announced the 2009 cost-of-living adjustments to dollar limitations for pension plans and other items. The new 401(k) deferral limit will be increased from $15,500 to $16,500. The annual benefit under a defined benefit plan will be increased…