Summary of 2021 Retirement Plan Limits
November 9, 2020
On October 26, 2020, the Internal Revenue Service announced cost of living adjustments affecting dollar limitations (“COLA limits”) for employer-sponsored retirement plans for tax year 2021. Most limits for employer-sponsored plans remain unchanged for 2021. A summary of the changes is shown in the table below. For additional details please see Notice 2020-79 published by the IRS.