The IRS announces savings adjustments

The IRS annually adjusts the maximum amounts that employees can save in their 401(k) plans. This chart (borrowed from SHRM) shows the defined contribution plan changes.   Defined Contribution Plan Limits 2019 2018 Change Maximum employee elective deferral* $19,000 $18,500 +$500 Employee catch-up contribution (if age 50 or older by year-end)** $6,000 $6,000 No change …

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