What is the maximum annual contribution limit for Franklin Templeton retirement plans?

The maximum annual contribution limit for Franklin Templeton retirement plans varies depending on the type of plan you have. For employer-sponsored plans such as a 401(k), the limit is set by the Internal Revenue Service (IRS) and may change each year. As of 2021, the maximum contribution limit for a 401(k) is $19,500 for individuals under 50 years old, and $26,000 for those who are 50 or older. For individual retirement accounts (IRAs), including traditional and Roth, the contribution limit is $6,000 for individuals under 50 years old, and $7,000 for those who are 50 or older. It's important to note that these limits may be subject to certain income restrictions and can be adjusted annually.