401(k) and IRA Contribution Limits for 2019

The IRS implemented cost-of-living adjustments that increased the contribution limits for 2019. The limit for 401(k), 403(b), most 457 plans, & Thrift Savings Plan increased from $18,500 to $19,000.

For IRAs and Roth IRAs, the limit on annual contributions is increased from $5,500 to $6,000. If you are aged 50 or older, the catch-up contribution limit is $1,000 which means you are now be able to contribute up to $7,000.