Announcing 2019 Retirement Plan Contribution Limits

Every year, the Internal Revenue Service reviews the dollar limitations for retirement plans and other similar items and announces cost of living adjustments.

For calendar year 2019, many limitations are changing. The table below provides key limits for 2018 and 2019:

Item

2019

2018

401(k)/403(b) Elective Deferrals

$19,000

$18,500

Annual Compensation Limit

$280,000

$275,000

Annual Contribution Limit

$56,000

$55,000

Annual Benefit Limit

$225,000

$220,000

Highly Compensated Employee 

$125,000

$120,000

Social Security Wage Base

$132,900

$128,400

Catch-Up Contributions

$6,000

$6,000

 

For more information as well as the complete IRS announcement:

2018-83 issued November 1, 2018 and 2019 Social Security Cola

If you have questions, please contact your Account Manager or PNC representative.

Inside Vested Interest®

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Important Legal Disclosures and Information

The PNC Financial Services Group, Inc. (“PNC”) uses the marketing name PNC Institutional Asset Management® for the various discretionary and non-discretionary institutional investment activities conducted through PNC Bank, National Association (“PNC Bank), which is a Member FDIC, and through PNC’s subsidiary PNC Capital Advisors, LLC, a registered investment adviser (“PNC Capital Advisors”). PNC Bank uses the marketing names PNC Retirement Solutions® and Vested Interest® to provide defined contribution plan services and PNC Institutional Advisory Solutions® to provide discretionary investment management, trustee, and other related services. Standalone custody, escrow, and directed trustee services; FDIC-insured banking products and services; and lending of funds are also provided through PNC Bank. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC does not provide services in any jurisdiction in which it is not authorized to conduct business. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”). Investment management and related products and services provided to a “municipal entity” or “obligated person” regarding “proceeds of municipal securities” (as such terms are defined in the Act) will be provided by PNC Capital Advisors.

“Vested Interest,” “PNC Institutional Asset Management,” “PNC Retirement Solutions,” and “PNC Institutional Advisory Solutions” are registered service marks of The PNC Financial Services Group, Inc.

Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.

The material presented in this newsletter is of a general nature and does not constitute the provision by PNC of investment, legal, tax, or accounting advice to any person, or a recommendation to buy or sell any security or adopt any investment strategy. Opinions expressed herein are subject to change without notice. The information was obtained from sources deemed reliable. Such information is not guaranteed as to its accuracy.