The IRS has announced the cost-of-living adjustments (COLA’s) to the dollar limits on qualified retirement plan benefits set by the internal revenue code for the year 2019.
|
2019 |
2018 |
Maximum 401(k) Contribution |
$19,000 |
$18,500 |
Maximum 403(b )/ 457(b) Contribution |
$19,000 |
$18,500 |
Catch-up Contributions (age 50+) 401(k), 403(b), 457(b) |
$6,000 |
$6,000 |
Defined Benefit Dollar Limit 415(b)(1) |
$225,000 |
$220,000 |
Defined Contribution 415 Maximum |
$56,000 |
$55,000 |
SIMPLE Election Deferral Limit |
$13,000 |
$12,500 |
Highly Compensated Employees’ Threshold |
$125,000 |
$120,000 |
Key Employees: · An includable officer receiving compensation in excess of: |
$180,000 |
$175,000 |
Annual Compensation Limit 401(a) |
$280,000 |
$275,000 |
Social Security Taxable Wage Bases
|
$132,900 No Limit |
$128,400 No Limit |
Social Security Tax Rates
|
6.20% 1.45% 7.65% |
6.20% 1.45% 7.65% |
Self-Employed Combined Rate |
15.30% |
15.30% |
IRA/Roth IRA Contribution Limit |
$6,000 |
$5,500 |
Catch-up—Age 50+ |
$1,000 |
$1,000 |
AGI for Saver’s Credit Eligibility |
$64,000 Joint $32,000 Single $48,000 Head of Household |
$63,000 Joint $31,500 Single $47,250 Head of Household |
Securities offered through MMA Securities LLC, member FINRA/SIPC, and a federally registered investment advisor. Main office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Variable insurance products distributed by MMA Securities LLC, CA 0K81142. Marsh & McLennan Insurance Agency LLC and MMA Securities LLC are affiliates owned by Marsh & McLennan Companies.
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