TAX CHANGES

2019- LIMITS for 403(b) and 401(k) Plan   Maximum allowed contribution up to $19,000, and up to $25,000 for those of you who will be age 50+ by December 31st, 2019.   Limit applies per person, per year, to all 403(b) contributions.   ROTH 403(b) (or ROTH TSA’s) are now available you may make allocations in any combination of 403(b) or ROTH 403(b).  Participants may have multiple TSA’s in any combination, Fixed Annuity, Index Annuity, Variable Annuity, Roth & Mutual Funds.
Individual Retirement Plans  Traditional IRA Plans and ROTH IRA contribution limits for 2019 are $6,000 if younger than 50 and $7,000 for those individuals 50 and older.  Please contact our office for phase out and limit restrictions based on Modified Adjusted Gross Income allowances and marital status.

                                     Ballesteros Family Insurance Services,   2190 Sombrero Dr.    Los Osos, CA,     93402       Phone 800 549-7476

 

License #: 0f50028