These Are the New 401 (K) and IRA Contribution Limits for 2019.
Retirees can set aside an additional $ 500 in their 401 (k) s and IRAs as the IRS adjusts the annual cost of living for 2019.
This means that those in the 401 (k), 403 (b) and majority 457 plans can contribute a total of $ 19,000 before taxes in 2019, while the traditional IRA and Roth contribution limit is now 6,000. dollars.
Those in their 50s can still contribute $ 1,000 more to their IRAs, for a total of $ 7,000, while the additional contribution limit for those over 50 for 401 (k), 403 (b) and 457 plans is still $ 6,000, which is older. For 2019, workers can contribute a total of $ 25,000. The total cap – which includes employer contributions and profit sharing – for defined contribution plans (which include 401 (k) s) is now $ 56,000.
Roth IRA revenue cuts also increase to $ 122,000-137,000 for singles and heads of household and $ 193-203,000 for co-registered couples.
You can read more about the changes and tax implications on the IRS websites .