Offering retirement and health savings plans is a smart choice for a business to attract and retain talent. Taking advantage of such plans is an even smarter choice for employees as these plans are not only a convenient way to save for the future but allow substantial tax savings today. Each year, the IRS adjusts their dollar limitations for pension plans and other related items. This year is no exception, and several limits are planned have increased.
If you are a proud retirement planning nerd like some of us, you’ll appreciate an advanced look at the 2019 limits for retirement and health savings plans. The IRS will release these limits in official format later this month, but we thought you might be interested in a preview. The following are projections based on actual and projected Consumer Price Index and published inflation numbers. Now you can impress all your friends with your insider knowledge. Have fun. Enjoy the journey!
Click the link below for charts and data!
Projected 401(k) and Retirement Plan Limits For Tax Year 2019
Not satisfied with this chart? Are you looking for something along the lines of a retirement plan strategy? We’ve got that too! The following articles will help you get on the right path. And don’t forget to contact Rea’s retirement plan services team to review your company’s existing plan or whether or not your own personal retirement planning strategy is working.
By Angie Isakson, QKA (Dublin office)