The IRS released 2021 contribution limits for 401(k)s – the basic salary deferral rate for 2021 remains unchanged, at $19,500. The catch-up amount for those over 50 years-of-age, also remains the same at $6,500. The overall limit for the plans increases by $1,000 from $57K to $58K.
Individual Retirement Account (IRA) contribution limits, also remain fixed at $6,000, with a $1,000 catch-up limit for those 50 and older.
HR Workplace Services, Inc. (HRWS) partners with the nation’s top insurance brokers and agencies providing their clients with best-in-class services for support and HR concerns, compliance and technology. HRWS operates in all 50 States and in over 25 different countries, serving organizations from three to 200,000 employees in 545 SIC Codes.
If you have questions about HRWS, call or email us directly or ask your insurance broker about us.
The information contained in this article is intended for educational purposes and to provide a general understanding of regulatory events, legislative changes and the law – not to provide specific legal advice.