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IRS Announces 2019 Cost-of-Living Adjustments

IRS Announces 2019 Cost-of-Living Adjustments

2019 COLA limits

Cost-of-living adjustment affecting dollar limitations for retirement plan contributions and limits in 2019 are slightly higher than 2018, according to an announcement from the Internal Revenue Service (IRS).

The elective contribution annual limit for employees who participate in  a 401(k), 403(b), and most 457 plans increases at $19,000. Annual catch-up contributions for employees 50 or older in those plans also remain the same, at $6,000.

The new limits are effective January 1, 2019. For a complete list of changes, visit IRS.gov.

Among the cost of living adjustments for 2019 compared to 2018:

 

Item

2019

2018

401(k), SARSEP and 403(b) deferrals*

$19,000

$18,500

401(k), SARSEP and 403(b) catch-up*

$6,000

$6,000

Defined contribution limit

$56,000

$55,000

Maximum compensation

$280,000

$275,000

457 deferrals and employer contributions*

$19,000

$18,500

Governmental 457(b) catch-up*

$6,000

$6,000

SIMPLE deferrals

$13,000

$12,500

SIMPLE catch-up

$3,000

$3,000

Highly compensated threshold

$125,000

$120,000

Key employee – top-heavy plan

$180,000

$175,000

Social Security taxable wage base

$132,900

$128,400

Defined benefit limit

$225,000

$220,000

* - Includes Roth contributions to 401(k), 403(b) & governmental 457(b) plans.

Web Content Viewer (JSR 286)

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Web Content Viewer (JSR 286)

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