If you took a withdrawal in 2021, 1099 form(s) will be mailed to you by January 31 for your income tax filing. Electronic versions of 1099-Rs will also be available within the Plan Documents section of the Account Detail page by the end of January.
The Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for retirement plans and other retirement-related items for the 2022 tax year. The maximum 401(k)/403(b) deferral limit increased from $19,500 to $20,500. However, the catch-up deferral limit remained the same at $6,500. Review the Participant guide to 2022 retirement plan limits for increases to other key savings limits.
Did you leave any retirement accounts with a former employer? If yes, you may want to consider a rollover of those accounts into your current plan, if your plan allows. Take this brief quiz to learn more about the benefits of a rollover and other options for managing your existing retirement accounts.
This information should not be considered to be tax advice. You should always consult your tax/legal advisor regarding your own specific tax/legal situation.
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