IRS increases 401k limits

November 2, 2018

The IRS announced inflation-indexed adjustments for qualified retirement plans, such as 401(k) plans and IRAs, for tax year 2019.

The maximum employee 401(k) contribution limit increased from $18,500 to $19,000 for 2019. The limit on annual contributions to an IRA increased from $5,500 to $6,000.

Notice 2018-83 details all the changes for 2019.

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