IRS Announces Good News For Savers
The Internal Revenue Service has announced an increase in the amount of money you can to contribute to your retirement accounts for 2019. According to the Internal Revenue Service, the contribution limit for employees who participate in a 401(k), 403(b) and most 457 plans, as well as the federal government’s Thrift Savings Plan, is increased from $18,500 to $19,000 a year. The catch-up contribution limit, which is a higher threshold for employees 50 years or older using these