401(k) Contribution Limit Increased to $19,000

The IRS has announced that the amounts employees can contribute to 401(k)s and IRAs will increase in 2019. In particular: The employee contribution limit for 401(k) plans will be $19,000, up from $18,500 in 2018. The catch-up contribution limit for employees aged 50 and over remains unchanged at $6,000. The employee contribution limit for IRAs…