The IRS announced this week the new contribution allowances for 2020.  Check out all the details below!

Flex Spending is $2750, up $50 from 2019.

Dependent Care Flex Spending is $5,000, same as 2019.

Roth IRA limit is $6,000, same as 2019.

Deferred Compensation 457 plan is $19,500, up $500 from 2019.

Deferred Compensation Over Age 50 Catch-up Limit is $6,500 for a total of $26,000 a year in contributions allowed.