Sunday, November 04, 2018
Maximum TDA Limit Raised To $19,000 For 2019.
Starting January 2019 the maximum annual limit will increase by $500, from $18,500 to $19,000. If the educator is 50 years of age or older, the TDA allows a "catch up" contribution of $6,000, which is unchanged from 2018. Therefore, the total maximum limit for educators 50 years of age or older is $25,000.
The more you contribute to the TDA, the less you pay in taxes that year since your TDA contribution is tax deferred.. Moreover, the TDA is exempt from State and City taxes in New York State.