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2019 Maximum Retirement Contributions

Posted by Shannon Reichelt on
2019 Maximum Retirement Contributions

Are you contributing the maximum allowed into your retirement plan? Awesome! Here are the new limits for 2019 that you can stash away.

$6,000 - IRA, including traditional, roth and nondeductible (was $5,500)

$19,000 - 401k (was $18,500)

$13,000 - Simple (was $12,500)

$56,000 - Defined Contribution Pension Plan (was $55,000)

For those of you over the age of 50 and partaking in catch-up contributions, there's no change. Never heard of this? Reach out to Bill or your financial planner to discuss. 

If you have a recurring default setup to fund your retirement contribution be sure to update them with these new increases. 

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