For the first time since 2013, the IRS is raising the contributions limits for IRAs. The maximum contribution for 401(k) accounts and IRAs is increasing by $500 for 2019. If you have not already done so, now is the time to plan for contributions into your retirement accounts in 2019. Check out the tables below for the new contribution limits and Social Security increases:

Retirement Contribution Limits

Retirement Program	2019	2018	Change	Age 50 or older catch up
401(k), 403(b), 457 plans	$19,000	$18,500	+$500	add: $6,000
IRA: Roth	$6,000	$5,500	+$500	add: $1,000
IRA: SIMPLE	$13,000	$12,500	+$500	add: $3,000
IRA: Traditional	$6,000	$5,500	+$500	add: $1,000

Social Security

Item	2019	2018	Change
Wages subject to Social Security	$132,900	$128,400	+$4,500	Annual Social Security employee tax: $8,239.80
Average estimated monthly retirement benefit	$1,461	$1,422	+$39

Don’t forget to account for any matching programs offered by your employer as you determine your various funding levels for next year.