Posted:
February 28, 2019
You are allowed to take the higher amount in the year you turn age 50. In other words, if you will turn 50 during calendar year 2019, the Internal Revenue Service will allow you to make up to $25,000 in pre-tax contributions to your 401(k) account in 2019.
An employer match or employer contribution to a 401(k) account DOES NOT reduce the maximum tax-deferred contribution allowed by the IRS for an individual employee.
The total amount of pre-tax individual 401(k) contributions (including Roth), after-tax individual contributions, and employer contributions are subject to a maximum annual limit of $56,000 by the IRS.
AMO Plans: IRS annual maximum allowed for employee tax-deferred contributions to an individual 401(k) account for 2019
- If you are under the age of 50, the maximum tax-deferred contribution to an individual 401(k) account for calendar year 2019 is $19,000.
- If you are over the age of 50, the maximum tax deferred contribution for 2019 is $25,000.
You are allowed to take the higher amount in the year you turn age 50. In other words, if you will turn 50 during calendar year 2019, the Internal Revenue Service will allow you to make up to $25,000 in pre-tax contributions to your 401(k) account in 2019.
An employer match or employer contribution to a 401(k) account DOES NOT reduce the maximum tax-deferred contribution allowed by the IRS for an individual employee.
The total amount of pre-tax individual 401(k) contributions (including Roth), after-tax individual contributions, and employer contributions are subject to a maximum annual limit of $56,000 by the IRS.