Controversial Social Security Proposal Would Ax Retirement Plan Tax Rules

on Feb 13, 2024 06:19:AM

Currently, limits for total employee and employer contributions to 401(k) plans and the like are set at $69,000, with those age 50 and older able to contribute an extra $7,500.Meanwhile, the limit for sole employee contributions is set at $23,000, or $30,500 if you are age 50 or older, with all contributions generally untaxed until […]