Benefits Bulletin - 1st Quarter 2020
/2020 Benefit Plan Limits Announced Many employee benefits are subject to annual dollar limits that are periodically increased for inflation. The IRS recently announced cost-of-living adjustments to the annual dollar limits for various welfare and retirement plan limits for 2020. Although some of the limits will remain the same, many of the limits will increase for 2020. Employers should update their benefit plan designs for the new limits, and communicate the new benefit plan limits to employees.
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