The Internal Revenue Service (IRS) announced last week that it has increased the contribution limits for employees who participate in 401(k), 403(b), and most 457 plans.  The total contributions amounts has increased $500 from $18,500 to $19,000 for plan year 2019.  In addition, the “all sources” contribution maximum increase $1,000 to $56,000.  These limits on contributions are adjusted each year due to inflation.  The catch-up contributions for employees who are age 50 or older remains unchanged at $6,000 because that is not adjusted along with inflation but set by law….

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