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Employee Benefits Update: IRS Benefit Plan Limitations
Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2019. There are changes to some of the most important numbers from 2018:
- Elective Deferral Limit: $19,000
- Catch-Up Contributions: $6,000
- 415 (Total) Plan Limit: $56,000
- Compensation Limit: $280,000
See an up-to-date chart that shows the historical limits from 2015 through 2019, and a reference to the IRS sources.
For more information regarding these updates, please contact Matthew J. Flanary at (262) 364-0253 or at firstname.lastname@example.org.