The SECURE Act

The Setting Every Community Up for Retirement Enhancement Act of 2019, better known as The SECURE Act, is a retirement security package under debate in Congress.  Currently, the bill is stalled in the Senate after passing through the House of Representatives in May 2019.  Among the changes to retirement plans and 529 plans, two of the more notable changes, if …

Increased Contributions Limits

The IRS announced cost of living adjustments in the contribution limits to popular retirement savings accounts for 2019.  The limit allowed to be contributed by employees to a 401(k), 403(b), Thrift Savings Plans, and 457 plans for 2019 increased from $18,500 to $19,000.  Participants over the age of 50 can contribute an additional $6,000 (unchanged from 2018). Contribution limits to …