2019 Retirement Plan limits announced

For 2019:

• Maximum 401(k) = $19,000 (increased from $18,500)
  
• 401(k) catchup (if over age 50) remains the same at $6,000
  
• Maximum 401(k) + catchup = $25,000 (increased from $24,500)
  
• Maximum 401(k)/Profit Sharing Plan contributions = $56,000 (increased from $55,000)
  
• ===> Maximum 401(k)/Profit Sharing Plan contributions including catchup = $62,000 (increased from $61,000)
  
• Maximum Compensation for Plan Years beginning in 2019 = $280,000 (increased from $275,000)