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2019 IRS Updates

Each year the Internal Revenue Service (IRS) releases any new adjustments to retirement plan policies for the upcoming year. In November the changes for the 2019 calendar year were released. Highlights include:

  • A Cost of Living increase for the contribution limits on employer retirement plans, 401(k)s, 403(b)s, 457 plans and TSPs, from $18,500 to $19,000
  • A Cost of Living increase for IRA contributions from $5,500 to $6,000
  • The annual catch-up amount for people over the age of 50 remained at $6,000 for employer plans and $1,000 for IRAs.

Check out all of the adjustment announced for 2019 here.

If you have any questions about the changes, please reach out to John McAuliffe, john@raffawealth.com

There is no guarantee that any investment strategy, including those described here, will be successful. Any investment or investment strategy can lose money. Past performance does not guarantee or predict future results. You should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Raffa Wealth Management, LLC. This information was gathered from reliable sources but we cannot guarantee accuracy. Indexes do not reflect the fees associated with actual investments and such fees would reduce the performance illustrated.
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