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IRS: 401(k) and IRA Contribution Limits Increase

Monday, November 05, 2018

The Internal Revenue Service (IRS) has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. The IRS issued technical guidance detailing these items in Notice 2018-83. Highlights of Changes for 2019 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,500 to $19,000. The limit on annual contributions to an Individual Retirement Arrangement (IRA), which last increased in 2013, is increased from $5,500 to $6,000. The additional catch-up contribution limit for individuals aged 50 and over is not subject to...
CalChamber Issues Vote Record on Major Business Bills 2018

Thursday, October 25, 2018

The California Chamber of Commerce has released a report of California legislators’ floor votes for the second year of the 2017-18 legislative session, focusing on priority bills for the state’s business community. This is the 44th vote record the CalChamber has compiled in response to numerous requests by member firms and local chambers of commerce that would like a gauge by which to measure the performance of their legislators. To help readers assess legislators’ vote records, the charts group bills into 12 areas: agriculture, food and natural resources; corporate governance; education; energy; health care costs, housing and land use; immigration; industrial safety...
401(k) Rule Change Would Ease Small Companies’ Path to Joint Plans

Monday, October 22, 2018

A new Labor Department rule would make it easier for small businesses to offer 401(k) plans, part of an effort to close a retirement-plan coverage gap that affects millions of employees. The proposed regulation would allow companies to band together to offer 401(k) plans sponsored by entities including business associations. Such arrangements, often called multiple-employer plans, are allowed now for employers with an affiliation or connection, such as companies with a common owner or members of the same industry trade association. The regulation—which the department said could go into effect as soon as early 2019 after a period for comments and possible...
Greater Irvine Chamber Receives the Nation's Highest Honor in Exporting & International Trade

Tuesday, May 22, 2018

U.S. Secretary of Commerce Wilbur Ross on May 21, presented Greater Irvine Chamber with the President’s “E” Award for Export Service at a ceremony in Washington, D.C. The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports. “The Greater Irvine Chamber of Commerce has demonstrated a sustained commitment to export expansion. The “E” Awards Committee was very impressed with the Chamber’s creation of an International Development Committee. The Chamber’s development of a series of trade opportunities between companies and organizations in Orange County, California and potential buyers and officials...
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