2020 Cost of Living Adjustments
By Louis F. LiBrandi, Principal
Plan sponsors should review the cost of living adjustments (COLAs) to determine what, if any, changes need to be communicated to employees by means of orientation meetings and enrollment forms. In addition, the amounts may need to be updated and/or inputted into the payroll or other human resources information systems used by the employer to monitor contributions made to an employee benefit plan.
The table below contains the dollar limitation for retirement plans and other benefit plan limits and thresholds for the 2018 through 2020 tax years.
For more information or if you have any questions, please contact your PKF O’Connor Davies representative or:
Louis F. LiBrandi, EA, CEBS, ChFC, TGPC
Employee Benefit Services Group
[email protected] | 646.449.632