November 16, 2022

The IRS Announces New 401k Plan Limits for 2023 – Sequoia
The IRS Announces New 401k Plan Limits for 2023 – Sequoia

On October 21, 2022, the Internal Revenue Service (IRS) announced the new 401k plan limits for 2023 in Notice 2022-551, showing a significant jump over previous years’ cost-of-living increases. Retirement plan industry experts note that the significant 401k plan increases for 2023 are a direct result of current inflation rates. Highlights of 401k Cost-of-Living Increases…

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2023 401k Limit & 2023 IRA Limit
2023 401k Limit & 2023 IRA Limit

IR-2022-188, October 21, 2022 – 2023 401k Limit & 2023 IRA Limit WASHINGTON — 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. The IRS today also issued technical guidance regarding all of the cost of living…

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Stuck With a 401K Loan and Leaving Your Job - MainStreetBusiness
Stuck With a 401K Loan and Leaving Your Job – MainStreetBusiness

Have you taken a loan from your employer 401(k) plan and plan on leaving? Unfortunately, most company plans will require you to repay the loan within 60 days, or they will distribute the amount outstanding on the loan from your 401(k) account. Its one of the ways they try to keep their employees from leaving.…

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