IRA Pension Limits

Department of Labor (DOL) Fiduciary Rule and Impartial Conduct Standards (PTE84-24)

Beginning February 16, 2021, the provisions of the DOL’s new Fiduciary Rule became effective, including the expanded definition of fiduciary and Impartial Conduct Standards under new and amended prohibited transaction exemptions. The DOL provided a non-enforcement grace period that will expire on February 1, 2022. This Rule represents the most significant change to retirement investment …

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2022 Pension Contributions

LIMITS 2022 Individual Retirement Accounts (IRA) Traditional or Roth  $       6,000.00 Catch up for IRA  $       1,000.00 Maximum elective deferral contributions (401K, 403B,457)  $    20,500.00 Maximum annual additions under a defined contribution plan ( includes SEP)  $    61,000.00 Maximum catch up contributions (401k. 403b, 457)  $       6,500.00 Maximum salary reduction contribution for a SIMPLE plan …

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