Internal Revenue Service Announces Pension Plan Limitations for 2012
The Internal Revenue Service ("IRS") announced today cost-of-living adjustments ("COLA") affecting dollar limitations for pension plans and other retirement-related items for the 2012 tax year under the Internal Revenue Code and related regulations. In general, many of the pension plan limitations will change for 2012 because the increase in the cost-of-living index has met the statutory thresholds that trigger their adjustment, while other limitations will remain unchanged. Details on both the unchanged and adjusted limitations are provided by the IRS in News Release IR-2011-103 and the COLA Increase Table.
If you have any questions concerning the pension plan limitations for 2012, please contact Jim Karas or Amanda Albert of Riker Danzig's Employee Benefits and Executive Compensation Group.