The IRS released new contribution limits for employees who participate in 401(k) plans in 2019.
The new number for those using pretax funds will be $19,000 in 2019, up from $18,500 in 2018. That limit will also apply to 403(b), Thrift Savings and most 457 plans.
The limits for IRAs also increased to $6,000. If you are 50 and over catch-up contribution limits will remain the same for 2019. For 401(k) and other employee plans, you can put in an additional $6,000 in 2019. For IRAs, you can put in an additional $1,000.
