November 5, 2018

Defined contribution retirement plan maximum contribution limit increases for 2019

The IRS has announced cost-of-living adjustments to retirement plan and IRA contribution limits, with increases for the second year in a row, though catch-up contributions will not change.

 

2018 Limits 2019 Limits
401(k), 403(b), and 457 plans $18,500 $19,000
Age 50+ catch-up contribution (additional to the standard contribution) $6,000 $6,000
 
Traditional and Roth IRAs $5,500 $6,000
Age 50+ catch-up contribution (additional to the standard contribution) $1,000 $1,000

 

To view the IRS document with detailed information, visit https://www.irs.gov/pub/irs-drop/n-18-83.pdf