Randall & Hurley, Inc.
Loren D. Stark Company
EPIC Retirement Plan Services
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|Most Americans Unaware of Deferral Limits under Tax Code|
Apr. 3, 2015
"According to a recent survey ... fully 90% of Americans do not know the amount of money they can defer to their 401(k) or other defined contribution plan accounts annually without triggering tax repercussions.... Despite the fact that the IRS tends to increase these limits by a small margin annually, ... researchers find very few retirement savers in the U.S. are either aware of the limit or actually set their deferrals to match it."
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