Adjustments for pension plan amounts for use in 2019 were released Nov. 1 by the Internal Revenue Service.
The contribution limit for employees who participate in Section 401(k), 403(b), and most 457 plans in 2019 is to increase to $19,000 from $18,500, the IRS said in Notice 2018-83. The catch-up contribution limit remains unchanged at $6,000 while the limit regarding SIMPLE retirement accounts is to increase to $13,000, up from $12,500, the agency said.
The maximum annual addition for defined contribution plans is to increase to $56,000 from $55,000 in 2019, the agency said.
The compensation limit used in ...
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