Defined contribution plans: The contribution limit on self-directed workplace retirement plans including 401(k)s, 403(b)s, most 457 plans, and the federal government's Thrift Savings Plan will increase by $500 in 2020, from $19,000 to $19,500, according to the IRS.
The catch-up contribution limit for employees age 50 and over in defined contribution plans will increase from $6,000 to $6,500.
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