The IRS issued Notice 2018-83 announcing the 2019 cost-of-living adjustments (COLAs) applicable to dollar limitations for employer-sponsored retirement plans, including individual retirement arrangements (IRAs). The annual contribution limit was increased from $5,500 or $6,500 for those eligible for catch-up contributions to $6,000 or $7,000 for those eligible for catch-up contributions, and the contribution limit regarding SIMPLE retirement accounts was increased from $12,500 to $13,000. The income limits associated with Traditional IRA deductibility, Roth eligibility, and the tax savers credit have also increased.
