The thresholds for making traditional IRA contributions have also increased:
- For single taxpayers covered by a workplace retirement plan the phase-out range is $64,000 to $74,000, up $1,000 from 2018 thresholds.
- For married couples filing jointly where the IRA contributor is covered by a workplace retirement plan the phase-out range is $103,000 to $123,000, up $2,000 from 2018 thresholds.
- For single taxpayers and head of household the phase-out range is $122,000 to $137,000, up $2,000.
- For married couples filing jointly the phase-out range is $193,000 to $203,000, up $4,000.
- 401(k), 403(b), and 457 plans increase to $19,000 from $18,500. The $6,000 catch-up contribution for taxpayers age 50 and older remains unchanged.
- SIMPLE plan limitations increase to $13,000 from $12,500