IRS announces 2019 dollar limits and thresholds for retirement plans
Posted on: 11/8/2018 10:10 AM
As outlined in IR 2018-211, (11/1/2018), IRS announced cost of living adjustments that apply to benefit plans for 2019. Elective deferral limit under Code Sec. 402(g); and Code Sec. 457(e); increased to $19,000. Code Sec. 415(b)(1)(A); defined benefit plan limitation increased to $225,000 and Code Sec. 415(c)(1)(A); defined contribution plan limitation increased to $56,000.
Lifetime Benefit Solutions, Inc. is not a law firm, has not reviewed that information for legal sufficiency, and does not give legal or tax advice. The sponsoring employer should have this information reviewed by its own legal counsel for compliance with ERISA, tax requirements, and other applicable laws and regulations.