The IRS just released the cost of living adjustments for various retirement plan limitations that will take effect on January 1, 2019. Many of the limits will be increasing for 2019. The key limits that increased (shown below in bold italics) include the compensation that is taken into account for plan purposes, the salary deferral limit, and the total amount that can be contributed on behalf of any participant in a defined contribution (including 401(k)) plan. The 2019 and prior year limits are as follows:
