The numbers are out…and they’re up. The limits for making contributions to retirement accounts in 2019. Let’s take a look and break it down.
Got a 401k or 403b at work? Check this out. The IRS calls them “elective deferrals”. I’ll call them “the amount you can stick in your account”…right out of your paycheck. In 2019, the maximum contribution amount rises $500 bucks to $19,000.
The catch up contribution for folks 50 and older holds steady at $6,000.