Every year the IRS releases inflation adjustments to amounts used in tax policy. One of these adjustments is the amount that can be contributed to retirement savings accounts.
Here is your comparison of contribution amounts to your retirement accounts for 2019 and 2020.
For more details on these saving accounts and amounts, visit the IRS website https://www.irs.gov/newsroom/401k-contribution-limit-increases-to-19500-for-2020-catch-up-limit-rises-to-6500
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