It’s Time for Increased 401(k), IRA Contribution Limits | SJS Investment Services

It’s Time for Increased 401(k), IRA Contribution Limits

January 3, 2019

As we ring in the new year, the IRS has announced new retirement account contribution guidelines for 2019. Contributing more to your retirement accounts can lead to a lower tax bill now – not to mention having more savings available during retirement.

For the first time since 2013, the IRA and Roth IRA contribution limits have been raised – to $6,000, up from $5,500. (Catch-up contributions for workers ages 50 and older remain the same, at $1,000.) Those who contribute to many common types of retirement plans, including 401(k) and 403(b) plans, are able to increase their annual contribution to $19,000 in 2019, which is up from $18,500.

For more information on eligibility, you can view the IRS highlights at, and check in with your tax professional for advice specific to your needs.

SJS Investment Services does not provide tax advice; please consult your tax professional for specific advice. This material has been prepared for informational purposes only.