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.