Page 8 - Wages, Salaries and Other Earnings
P. 8

Wages, Salaries and Other Earnings



          Changes in 2021












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                        Revised                                                                 Verify






                  Deferred compensation contribution limit                       Compensation received for services as an
                   increased. If you participate in a 401(k) plan,                  employee, such as wages, salaries, and fringe
                   403(b) plan, or the federal government's                         benefits. The following are included.
                   Thrift Savings Plan, the total annual amount                         • Bonuses and awards.
                   you can contribute is increased to $19,500.                          • Special rules for certain employees.
                   This also applies to most 457 plans.                                 • Sickness and injury benefits.
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