The Internal Revenue Service has announced the dollar limitations for retirement plans for the 2020 tax year. The 403(b) & 457(b) contribution limits increase from $19,000 to $19,500 with an increase to the age 50 catch-up contribution from $6,000 to $6,500. The 401(a) compensation limit increases from $280,000 to $285,000.
Learn more about WVU’s offerings for supplemental retirement savings or how to make changes.