November 2, 2018

On November 1, 2018, the IRS announced the new limits on retirement benefits and compensation, adjusted annually for cost-of-living increases.  The following limits are effective January 1, 2019.

 

2019

IRAs

IRA Contribution Limit

$6,000

 

IRA Catch-Up Contributions

$1,000

401(k), 403(b), Profit-Sharing Plans, etc.

Catch-Up Contribution Limit (age 50 and older)

$6,000

Annual Compensation Limit

$280,000

Defined Contribution Limit

$56,000

401(k), 403(b), 457 Elective Deferral Limit

$19,000

Other

Definition of Highly Compensated Employee

$125,000

Key Employee

$180,000

Defined Benefit Limits

$225,000