IRS Boosts 2019 IRA and employer retirement plan contributions limitsSubmitted by Financial Planning Hawaii on January 4th, 2019
For the 2019 tax year, the IRA and Roth IRA contribution limits will be $6,000 per person while 401(k), 403(b), and 457(b) plan salary deferral limits will be $19,000. Simple IRA participant salary deferral limit will be $13,000. All of these figures represent a $500 increase from the previous limits with had been in place from 2013-2018.
The catch-up contribution limits for people age 50+, remain unchanged at $1,000 for IRAs, $6,000 for 401(k), 403(b), and 457(b) plans, and $3,000 for SIMPLE IRAs.
SEE: 2019 Retirement Plan Topics - Contributions (IRS.gov)