The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022.
IRS Grants Temporary Relief for Safe Harbor Plan Sponsors
For struggling 401(k) and 403(b) plan sponsors concerned about making mid-year safe-harbor contributions, new IRS guidance offers temporary relief. Typically, plan sponsors must meet specific regulatory requirements to reduce or …
