• IRS Announces Adjusted Plan Limits for 2013
  • October 30, 2012 | Authors: Michelle Lara; Thomas Z. Reicher; Lisette Sell; David A. Walsh; Thomas S. Welk
  • Law Firms: Cooley LLP - San Diego Office ; Cooley LLP - Palo Alto Office ; Cooley LLP - Reston Office ; Cooley LLP - San Diego Office
  • The Internal Revenue Service has announced the 2013 limits that affect the operation of tax-qualified retirement plans, including 401(k) plans, and certain other types of employee benefit plans, including deferred compensation plans that may be subject to Internal Revenue Code ยง409A. The amount by which the limits are adjusted each year is based on a cost of living index. Not all limits increase every year. Please see the accompanying table for the limits that are effective January 1, 2013, as well as a reference for comparison purposes to the 2012 limits, where different.