The Internal Revenue Service (IRS) annually reevaluates retirement-plan-contribution limits and makes period changes in order to keep of with cost-of-living increases, inflation, and other economic factors.

In November of 2019, the IRS announced the 2020 contribution limits for employer-sponsored plans and Individual Retirement Accounts (IRAs).

In this video, I run through some of the relevant alterations to the contribution limits. Viewers will find information that is pertinent to such plans as 401(k)s, 403(b)s, 457(b)s, TSPs, Roth IRAs, SIMPLE IRAs, and Traditional IRAS.

For general information on the basic retirement plans, see:

For more plan-related information, please see the following.

401(k):

403(b):

457(b):

On tax-deferral:

Also… don’t forget to take your 2019 RMD (if applicable). See:

Disclaimer: I am not a financial adviser. This video is for general informational or entertainment purposes only and should not be construed as providing financial, insurance, investment, legal, retirement, or tax advice of any kind. For personalized recommendations, seek out competent and licensed professionals in your area.

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