As part of the Internal Revenue Service’s 2019 cost of living adjustments, 401(k) and IRAs contribution amounts have increased for pension plans and other retirement-related items.
Retirement Fund Contribution Rates for 2018 vs 2019 |
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| 2018 | 2019 | |
| 401(k) | $18,500 | $19,000 |
| Simple IRA | $12,500 | $13,000 |
| IRA | $5,500 | $6,000 |
Additional catch-up contribution limits for individuals aged 50 and over will remain the same.
Total 2018 vs 2019 Retirement Fund Contributions for individuals over 50 including Catch-up |
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| 2018 | 2019 | Catch-up Amount | Employee Due Date | |
| 401(k) | $24,500 | $25,000 | $6,000 | Dec 31 |
| Simple IRA | $15,500 | $16,000 | $3,000 | Dec 31 |
| IRA | $6,500 | $7,000 | $1,000 | Apr 15 |
Employer catch-up contributions are due before the tax filing deadline. For 2018, that is April 15, 2019.
For more detailed information about Retirement Fund contributions, check with the IRS 401k Contribution info 2019 or contact us.
