Employees can contribute $19,500 in 401(k) contributions for 2020, an increase of $500. The combined employer and employee  contribution limit rises by $1,000 to $57,000.  For participants ages 50 and over, the additional “catch-up” contribution limit will increase to $6,500, up by $500.

If you have any questions, feel free to contact us at ksmyth@lipsonneilson.com or 248-593-5000.

Contact: Karen A. Smyth
Phone: 248-593-5000
Email: ksmyth@lipsonneilson.com