The IRS has announced the 2020 cost-of-living adjustments with respect to retirement plan contribution limits. Many dollar limits will change because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. Key figures include: elective annual deferrals to 401(k) and 403(b) plans will increase $500 to $19,500. The maximum contribution to a defined benefit plan will increase $1,000 to $57,000. The annual limit for defined benefit plans will increase $5,000 to $230,000. Contributions to defined benefit plans increase $1,000 to $57,000. Maximum contributions to IRAs will remain the same at $6,000. For additional numbers: our website for more information!