401(k) Contribution Limit Increases to $19,000 and IRA Limit Increases to $6,000 for 2019

The IRS has officially released the 2019 contribution limits:

• 401(k), 403(b), 457, and Thrift Savings Plan - Contribution limit increases from $18,500 to $19,000 ($6,000 catch-up unchanged)
• IRA - Contribution limit increases from $5,500 to $6,000 ($1,000 catch-up unchanged)
• SIMPLE - Contribution limit increases from $12,500 to $13,000

Income ranges for eligibility have all increased by the COLA (Cost of Living Adjustment) and full details can be found on the IRS website here.