11.15.2018 Back to News

403(b) and 401(k) Plan Limits for 2019

MHS Defined Contribution Retirement Plan for MHS Employees and SSS Defined Contribution Retirement Plan

2019 Contribution Limits

The 2019 contribution limits have changed for the MHS Defined Contribution Retirement Plan (also known as the 403(b) Plan) and the SSS Defined Contribution Retirement Plan (also known as the 401(k) Plan).

  • The annual contribution limit is $19,000 in 2019.  
  • The annual “catch-up” contribution limit is $6,000 in 2019.  You are eligible for this “catch-up” contribution if you will be age 50 or older on Dec. 31, 2019.
  • The plan maximum for employer matching contributions in 2019 is $5,600.  
  • Be sure to contribute at least 2 percent of your compensation each paycheck you receive in 2019 so you receive the maximum employer matching contribution you are entitled to!  You will not receive an employer matching contribution for any check you do not make an employee contribution from.

If you participate in either of these plans and want to change your election to be effective with your first check in January, you must change your election no later than December 18, 2018, if you are a monthly paid employee or December 24, 2018, if you are a bi-weekly paid employee.  To change your election you may either call the Wells Fargo Retirement Service Center at 1-800-728-3123 or go online at www.wellsfargo.com, select the MHS Defined Contribution Retirement Plan or the SSS Defined Contribution Retirement Plan – on My Dashboard scroll down to My Contributions to make your selection.

MHS Defined Contribution Retirement Plan for Methodist Jennie Edmundson Employees 

2019 Contribution Limits

The 2019 contribution limits have changed for the MHS Defined Contribution Retirement Plan (also known as the 403(b) Plan).

MHS Defined Contribution Retirement Plan

All employees are eligible to contribute to this plan.

  • The annual contribution limit is $19,000 in 2019. 
  • The annual “catch-up” contribution limit is $6,000 in 2019. You are eligible for this “catch-up” contribution if you will be age 50 or older on Dec. 31, 2019. 

If you participate in this plan and want to change your election to be effective with your first check in January, you must change your election no later than Dec. 18, 2018, if you are a monthly paid employee or Dec. 24, 2018, if you are a bi-weekly paid employee. To change your election you may either call the Wells Fargo Retirement Service Center at 1-800-728-3123 or go online at www.wellsfargo.com, select MHS Defined Contribution Plan  - on My Dashboard scroll down to My Contributions to make your selection.