The Internal Revenue Service (IRS) has announced its 2011 cost-of-living adjustments (COLA) that affect retirement savings plans. For 401(k), 403(b) and profit-sharing plans, there are no changes in COLAs for 2011; limits from 2010 remain in place.
COLA adjustments are critical to the health of retirement plans because they allow plans to stay current – and valuable – in terms of economic worth. COLA limits affect how much can be contributed to a retirement plan, deduction limits, nondiscrimination testing and more.
To see the complete list of IRS cost-of-living adjustments for 2011, visit the IRS website at www.irs.gov.
How valuable is your company’s retirement benefits program? With you have a qualified or nonqualified plan, PRM Consulting’s actuaries and retirement consultants can help you evaluate your retirement program, and help with issues related to your program’s design, funding, management and more. Contact PRM Consulting for your retirement plan consulting needs.