What is the max 401K contribution for 2019?

The maximum 401K contribution limit went up for 2019.

The max 401K employee only contribution limit for 2019 is $19,000 (up $500 from the 2018 limit of $18,500) for those under age 50 and $25,000 for those age 50 and above. I’d like to stress that this is the employee only limit.

The max employee AND employer total 401K contribution limit is $56,000 for 2019 (up $1,000 from the 2018 limit of $55,000). However, you likely won’t need to worry about this combined max employee and employer contribution limit. Most 401K plans aren’t so generous to get you to $56,000 in a single year.

You probably don’t need to worry so much about the employee only max contribution limit either. Say you’re making $100K/year. You’d have to contribute 19% to hit the $19K max for 2019. That’s insane (and brilliant if you’re doing it). To give you some perspective, below are the average 2018 contributions by age (chart from money.com).

2018 average 401K contributions by age

For additional information and examples, you can reference this page on the IRS website.

Other helpful 401K blog posts on SmartMoneyBlogger

What is a 401K and how does it work?

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