2019 Contribution and Benefit Limits
The IRS has announced the 2019 contribution and benefit limits for 401(k) and other qualified plans.
•The 401(k) and 403(b) Maximum Annual Elective Deferral Limit has increased to $19,000
•The Catch-up Contribution Limit for individuals aged 50 or over is still $6,000
•The Annual Defined Contribution Limit has increased to $56,000
•The Defined Benefit Plan Annual Limit has increased to $225,000
I have included a flyer that summarizes the 2018 and 2019 limits, to makes it easy to communicate the changes to your employees. The changes to the limits provide an opportunity for your company to encourage saving behavior for your employees. Please let us know how we can help.
Contribution and Benefit Limits Flyer
For the full details on plan limits visit the IRS website : Click Here