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November 1, 2017In This Edition: 2018 BENEFIT PLAN LIMITS 2018 SOCIAL SECURITY COSTOFLIVING ADJUSTMENT 2018 PENSION AND RETIREMENT PLAN LIMITS PROPOSED DELAY ENHANCED DISABILITY CLAIM RULES INTERACTION
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What is plan limits?
Plan limits refer to the maximum amount of contributions or benefits that can be allocated to a retirement plan in a given year.
Who is required to file plan limits?
Employers or plan administrators are required to file plan limits for the retirement plans they manage.
How to fill out plan limits?
Plan limits are typically reported on IRS Form 5500, which must be filled out with accurate information regarding the retirement plan.
What is the purpose of plan limits?
The purpose of plan limits is to ensure that retirement plans comply with the regulations set forth by the IRS and Department of Labor.
What information must be reported on plan limits?
Plan limits must include details about the contributions made to the plan, employee participation, and any distributions made during the year.
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