If permitted by your 401(k) plan, participants who are age 50 or over at the end of the calendar year can also make catch-up contributions. The additional elective deferrals you may contribute is $6,000 to traditional and safe harbor 401(k) plans.
Month: March 2019
Looking Forward: 2019
- 401k contribution limit: will increase by $500 from $18,500 in 2018 to $19,000 in 2019.
- Social Security contribution limit: The wage base— the maximum amount of earnings subject to Social Security tax—will rise from $128,400 to $132,900 (3.5%) in 2019.