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Posts Tagged ‘micro systems consultants’

Law Increases 401K Annual Limits

Icon Written by Administrator on May 13, 2009 – 9:59 am

On August 7, 2008, the Governor of Puerto Rico signed into law Act 186, which increases the pre-tax contribution limits for Section 1165(e) savings plans. Under prior law, pre-tax contributions were limited to the lesser of 10 percent of compensation or $8,000 per year. The new law removes immediately the 10 percent cap, so that the limit for 2008 plan years is $8,000 regardless of compensation. It also increased the annual limits for plan years beginning in 2009 and thereafter as follows:

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Welcome!

Icon Written by Administrator on April 29, 2009 – 8:46 am

Welcome to MSC Payroll News. Here you will find useful payroll and human resources tips and advice. Feel free to post your comments. Email your article requests to info@mscpr.com. This blog is published by Micro Systems Consultants. Visit us at www.mscpr.com to lean more about MSC Payroll.

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