For 2019, the Internal Revenue Service (IRS) is raising most of the annual threshold and benefit levels that apply to retirement plans, the IRS announced on November 1.
Employers and retirement plan administrators can apply the new rates as they prepare their plans for next year and conduct nondiscrimination testing. Notice 2018-83 outlined the latest changes to cost-of-living adjustments for various statutory dollar amounts relevant to employee benefit plans.
The limits affect maximum contribution levels (see ¶241 in The 401(k) Handbook for more information). Decisions about raising thresholds critical for retirement plan administration