New Cost of Living Adjustments for 2019

The new Cost-Of-Living Adjustment (COLA) increases have come out for the year 2019. In the link below we have comparison of the 2019 and 2018 COLA dollar limitations on benefits and contributions.

Notable Changes:

  • For 2019, you can contribute $500 more to your IRA and SIMPLE plans.
  • 401(k) deferral limits also increased by $500, while total defined contribution limits increased by $1000.
  • IRS taxable Wage Base increased from $128,400 to $132,900.

 

COLA increases 2019-2018

If you have any questions, please contact Lori Plescia, CFP®, CPA, PFS, QPFC at lplescia@bwtpcpa.com or 314-576-1350.

Robert (Bob) Schmidt, CPA

Principal at BWTP, P.C. Read Bob’s bio here.

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