IRS Announces 2019 Retirement Plan Inflation Adjusted Limits
The IRS announced in Notice 2018-83 the inflation adjusted limitations imposed on qualified plans for 2019.
| Type | 2019 Amounts | 2018 Amounts |
|---|---|---|
| Maximum annual benefit-DB Plan (§415) | $ 225,000 | $ 220,000 |
| Contribution limit DC Plan (§415) | 56,000 | 55,000 |
| Annual Compensation Limit (§404(l)) | 280,000 | 275,000 |
| Catch up Contributions to Employer Plan | 6,000 | 6,000 |
| Elective Deferrals (§402(g)) | 19,000 | 18,500 |
| Highly Compensated Employee (§414(q)) | 125,000 | 120,000 |
| Key Employee Compensation (§416(i)) | 180,000 | 175,000 |
| SIMPLE Deferral Limitation (§408(p)) | 13,000 | 12,500 |
| SIMPLE Catch Up Contribution (414(v)(2)(B)) | 3,000 | 3,000 |
| SEP Compensation Limit (§408(k)) | 600 | 600 |
| IRA Limitations | ||
| Maximum IRA Contribution (before catch-up) (§219(b)(5)(A)) | 6,000 | 5,500 |
| Deduction phases out for individuals that are an active participant in an employer plan for adjusted gross income between | Single and Head of Household - $64,000 to $74,000 | Single and Head of Household - $63,000 to $73,000 |
| Married Filing Joint - $103,000 - $123,000 | Married Filing Joint - $101,000 - $121,000 | |
| Married Filing Separate - $0 - $10,000 | Married Filing Separate - $0 - $10,000 | |
| Deduction phases out for individuals whose spouse is an active participant in a an employer plan phases out between | $193,000 - $203,000 | $189,000 - $199,000 |
| Roth IRA Maximum Contribution Phaseout Begins: | ||
| Married filing joint | 193,000 | 189,000 |
| Other except married filing separate | 122,000 | 120,000 |