Retirement Plan Dollar Limits Get a Boost for 2012

The Internal Revenue Service announced the cost-of-living adjustments applicable to the dollar limitations for qualified retirement plans that will allow employees to increase their retirement savings for 2012. This Alert highlights some of the new limits, comparing the new limits to the limits of the prior seven years. Many of the limits had remained unchanged for several years, but the cost-of-living index has now met the statutory thresholds, which has triggered adjustments for 2012.