For the first time since 2013, the IRS has increased IRA annual contribution limits so our members can save even more for retirement in their IRAs.
According to IRS.gov, the new annual limits to contributions to an IRA are $6,000 (an increase of $500). Individuals age 50 and over can make catch-up contributions for a annual contribution limit of $7,000.
Those saving for retirement need to remember that these increases don’t take effect until January 1, 2019.
According to the IRS, the changes reflect cost of living increases expected in the new year.
Membership in Catholic United Financial starts after you purchase a product from us. Membership means aligning your finances to your faith, and: