Higher contribution limits for retirement savers

Higher contribution limits for retirement savers

January 9, 2019


The IRS recently announced an increase in the annual deferral limit for participants in employer-sponsored retirement plans such as the Texa$averSM 401(k) / 457 Program. For 2019, the limit has increased to $19,000 (from $18,500 in 2018). The additional “catch-up” amount that participants age 50 and older can contribute each year remains at $6,000 (for an annual total of $25,000).
 
More information is available from this IRS publication. Log in to www.texasaver.com/ to increase your deferral amount.