As we embark on a new year, here’s a reminder of the significant changes to retirement plan contribution limits and related adjustments for the tax year 2025 announced by the Internal Revenue Service (IRS). These updates affect a wide array of retirement accounts, including 401(k) plans, 403(b) plans, governmental 457 plans, the federal government’s Thrift Savings Plan (TSP), Individual Retirement Accounts (IRAs), and SIMPLE plans. The changes bring important implications for employees, employers (including government and not-for-profit organizations), and those involved in plan administration, accounting, and financial reporting. Continue reading to learn about these updates and their impact on you and your organization.
The post Impact of 2025 Changes to Retirement Plans: A Look at 401(k), 403(b), IRAs, and Other Retirement Plans appeared first on The Westside Gazette.
