Employee Benefits E-Update: Updated Cost-of-Living Adjustments for 2016 Issued for Your Retirement Plan Administration
The Internal Revenue Service has announced its annual cost-of-living adjustments for 2016. However, because the cost-of-living index increase was not significant enough to trigger COLA adjustments to the retirement plan limits on the attached chart, the 2016 limits on the chart remain unchanged from the 2015 limitations.
To assist plan sponsors, Ice Miller's updated Cost-of-Living Adjustment (COLA)
chart lists the cost-of-living adjustments to retirement plan limitations for the years 2003 through 2016. We have included the adjusted limits, as well as Pension Benefit Guaranty Corporation guarantees, and Social Security and Medicare contribution rates and wage bases for the past 13 years, as a handy reference tool. If you would like a laminated copy of the chart, please e-mail your name and address to email@example.com
To discuss the impact of these cost-of-living adjustments, please contact the Ice Miller Employee Benefits Group
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.