While there are no specific 529 plan contribution limits, most people consider the $19,000 annual gift tax exclusion to be ...

The Elective Deferral Limit is the maximum contribution that can be made on a pre-tax basis to a 401(k) or 403(b) plan (Internal Revenue Code section 402(g)(1)). Some still refer to this as the $7,000 ...

Catch-up contributions have always been a powerful way for people in their 50s and early 60s to turbocharge retirement ...

Understanding 401(k) account characteristics is important to maximize investment contributions and save enough money to fund your lifestyle in retirement. Investing in a 401(k) plan is one of the most ...

As you may recall, in addition to the numerous states Ice Miller represents for employee benefit matters, we also represent the Miller United Pension System in the fifty-first state of Iceville. The ...

A 529 plan is a tax-advantaged way for parents to save for their children’s education expenses. The IRS doesn’t impose a contribution limit on 529 plans, unlike for other tax-advantaged accounts such ...

Many defined contribution plans are designed to permit participants to take advantage of an increased employee contribution limit starting the year they turn 50.[1] In 2022, SECURE Act 2.0 made two ...