Posted on October 27, 2015
The IRS has announced (IR-2015-118) the cost-of-living adjustments for pension plans and other related items for the tax year 2016. The following table shows the 2016 dollar limitations in comparison to 2015. Most of the 2016 levels remain unchanged from 2015 because increases in the cost of living index did not meet the thresholds for adjustment.
For additional information, please contact David M. Mosier by phone at (814) 459-2800 or via email at firstname.lastname@example.org.
David M. Mosier is an Shareholder at Knox McLaughlin Gornall & Sennett, P.C.’s Erie office.