2019 Increases to Contribution Limits
Next year, you can start saving more for retirement! The IRS announced an increase in retirement plan contributions for 2019. The Traditional and Roth IRA contribution limit is increased from $5,500 to $6,000 next year. The additional catch-up contribution limit for those age 50+ remains unchanged at $1,000. The amount you can contribute to your workplace retirement plan, i.e. 401(k), 403(b), most 457 plans, and Thrift Savings Plan (TSP), is bumped up from $18,500 to $19,000. Catch-up contribution limits for participation in these plans also remains unchanged at $6,000. Click to view the plan types, limits, and annual comparison:

Federal Employees, check out the TSP contribution limits for 2019:
If you are currently making monthly contributions, and wish to increase contribution amount in light of this news, please contact us!
2019 HSA & FSA Contribution Limits
In addition to increased retirement plan contribution limits, 2019 also brings increases to Health Savings Account (HSA) and Flexible Spending Account (FSA) contribution limits. The HSA contribution limit for self-only coverage jumps from $3,450 in 2018 to $3,500 in 2019, a $50 increase. Those with family coverage can contribute up to $7,000 in 2019, which has increased by $100 from $6,900 in 2018.

FSA contribution limits have increased $50 as well, from $2,650 in 2018 to $2,700 in 2019.
Mason & Associates will be closed the week of Christmas, and two days for New Year’s:

Monday, December 24 – Tuesday, January 1
The prettiest Masons and a just a few of the crew
Thank you for all of the positive feedback in response to our previous email, and your support of Mason & Associates' initiatives. We wish you and yours a very Merry Christmas, and Happy New Year!