| Retirement Plan / Qualified Plan Limits | |
|---|---|
| IRA Contribution Limits | Roth IRA Phase-Out Range & Limits |
| 401k Contribution Limits | Defined Contribution Plans Limits |
| Simple IRA Limits | SEP IRA Limits |
| 403(b) Contribution Limits | Section 457 Plan Limits |
| IRA Contribution Limits | ||
|---|---|---|
| Year | AGE 49 & BELOW | AGE 50 & ABOVE |
| 2002-2004 | $3,000 | $6,000 |
| 2005 | $4,000 | $4,500 |
| 2006-2007 | $4,000 | $5,000 |
| 2008 | $5,000 | $6,000 |
| 2009 | $5,000 | $6,000 |
| 2010 | $5,000 | $6,000 |
| 2011 | $5,000 | $6,000 |
| 2012 | $5,000 | $6,000 |
| 2013 | $5,500 | $6,500 |
| 2014 | $5,500 | $5,500 |
| 2015 | $5,500 | $6,500 |
| 2016 | $5,500 | $6,500 |
| 2017 | $5,500 | $6,500 |
| 2018 | $5,500 | $6,500 |
| 2019 | $6,000 | $7,000 |
| 2020 | $6,000 | $7,000 |
| 2021 | $6,000 | $7,000 |
| 2022 | $6,000 | $7,000 |
| 2023 | $6,500 | $7,500 |
| 2024 | $7,000 | $8,000 |
| Roth IRA Phase-Out Range & Limits | ||
|---|---|---|
| Year | Single | Married Filing Jointly |
| 2005 | $95,000 - $110,000 | $150,000 - $160,000 |
| 2006 | $95,000 - $110,000 | $150,000 - $160,000 |
| 2007 | $99,000 - $114,000 | $156,000 - $166,000 |
| 2008 | $101,000 - $116,000 | $159,000 - $169,000 |
| 2009 | $105,000 - $120,000 | $166,000 - $176,000 |
| 2010 | $105,000 - $120,000 *(Rollover limit removal) | $167,000 - $177,000 *(Rollover limit removal) |
| 2011 | $107,000 - $122,000 | $169,000 - $179,000 |
| 2012 | $110,000 - $125,000 | $173,000 - $183,000 |
| 2013 | $112,000 - $127,000 | $178,000 - $188,000 |
| 2014 | $114,000 - $129,000 | $181,000 - $191,000 |
| 2015 | $116,000 - $131,000 | $183,000 - $193,000 |
| 2016 | $117,000 - $132,000 | $184,000 - $194,000 |
| 2017 | $118,000 - $133,000 | $186,000 - $196,000 |
| 2018 | $120,000 - $135,000 | $189,000 - $199,000 |
| 2019 | $122,000 - $137,000 | $193,000 - $203,000 |
| 2020 | $124,000 - $139,000 | $196,000 - $206,000 |
| 2021 | $125,000 - $140,000 | $198,000 - $208,000 |
| 2022 | $129,000 - $144,000 | $204,000 - $214,000 |
| 2023 | $138,000 - $153,000 | $218,000 - $228,000 |
| 2024 | $146,000 - $161,000 | $230,000 - $240,000 |
| You can contribute to a Roth IRA if your income falls below the Roth limits. You're allowed a prorated contribution if your income falls within the "phase-out" range. If your income exceeds the income range you won't qualify for a Roth IRA contribution. *Though the 2010 Roth IRA conversion limit is removed, phase out limits still apply for contribution. |
||
| Employer Sponsored 401k Contribution Limits | ||
|---|---|---|
| Year | AGE 49 & BELOW | AGE 50 & ABOVE |
| 2005 | $14,000 | $18,000 |
| 2006 | $15,000 | $20,000 |
| 2007 | $15,500 | $20,500 |
| 2008 | $15,500 | $20,500 |
| 2009 | $16,500 | $22,000 |
| 2010 | $16,500 | $22,000 |
| 2011 | $16,500 | $22,000 |
| 2012 | $17,000 | $22,500 |
| 2013 | $17,500 | $23,000 |
| 2014 | $17,500 | $23,000 |
| 2015 | $18,000 | $24,000 |
| 2016 | $18,000 | $24,000 |
| 2017 | $18,000 | $24,000 |
| 2018 | $18,500 | $24,500 |
| 2019 | $19,000 | $25,000 |
| 2020 | $19,500 | $26,000 |
| 2021 | $19,500 | $26,000 |
| 2022 | $20,500 | $27,000 |
| 2023 | $22,500 | $30,000 |
| 2024 | $23,000 | $30,500 |
| Defined Contribution Plans, basic limits | ||
|---|---|---|
| Year | Max Dollar Allocation | Max Considered Compensation |
| 2005 | $42,000 | $210,000 |
| 2006 | $44,000 | $220,000 |
| 2007 | $45,000 | $225,000 |
| 2008 | $46,000 | $230,000 |
| 2009 | $49,000 | $245,000 |
| 2010 | $49,000 | $245,000 |
| 2011 | $49,000 | $245,000 |
| 2012 | $50,000 | $250,000 |
| 2013 | $51,000 | $255,000 |
| 2014 | $52,000 | $260,000 |
| 2015 | $53,000 | $265,000 |
| 2016 | $53,000 | $265,000 |
| 2017 | $54,000 | $270,000 |
| 2018 | $55,000 | $275,000 |
| 2019 | $56,000 | $280,000 |
| 2020 | $57,000 | $285,000 |
| 2021 | $58,000 | $290,000 |
| 2022 | $61,000 | $305,000 |
| 2023 | $66,000 | $330,000 |
| 2024 | $69,000 | $345,000 |
| The maximum amount that can be contributed to a defined contribution plan is 25% of an employee's compensation, which is capped at a maximum, per above. |
||
| Simple IRA Limit | ||
|---|---|---|
| Year | AGE 49 & BELOW | AGE 50 & ABOVE |
| 2005 | $10,000 | $12,000 |
| 2006 | $10,000 | $12,500 |
| 2007 | $10,500 | $13,000 |
| 2008 | $10,500 | $13,000 |
| 2009 | $11,500 | $14,000 |
| 2010 | $11,500 | $14,000 |
| 2011 | $11,500 | $14,000 |
| 2012 | $11,500 | $14,000 |
| 2013 | $12,000 | $14,500 |
| 2014 | $12,000 | $14,500 |
| 2015 | $12,500 | $15,500 |
| 2016 | $12,500 | $15,500 |
| 2017 | $12,500 | $15,500 |
| 2018 | $12,500 | $15,500 |
| 2019 | $13,000 | $16,000 |
| 2020 | $13,500 | $16,500 |
| 2021 | $13,500 | $16,500 |
| 2022 | $14,000 | $17,000 |
| 2023 | $15,500 | $19,000 |
| 2024 | $16,000 | $19,500 |
| SEP IRA Limit | ||
|---|---|---|
| Year | Max Dollar Allocation | Max Considered Compensation |
| 2005 | $42,000 | $210,000 |
| 2006 | $44,000 | $220,000 |
| 2007 | $45,000 | $225,000 |
| 2008 | $46,000 | $230,000 |
| 2009 | $49,000 | $245,000 |
| 2010 | $49,000 | $245,000 |
| 2011 | $49,000 | $245,000 |
| 2012 | $50,000 | $250,000 |
| 2013 | $51,000 | $255,000 |
| 2014 | $52,000 | $260,000 |
| 2015 | $53,000 | $265,000 |
| 2016 | $53,000 | $265,000 |
| 2017 | $54,000 | $270,000 |
| 2018 | $55,000 | $275,000 |
| 2019 | $56,000 | $280,000 |
| 2020 | $57,000 | $285,000 |
| 2021 | $58,000 | $290,000 |
| 2022 | $61,000 | $305,000 |
| 2023 | $66,000 | $330,000 |
| 2024 | $69,000 | $345,000 |
| The maximum amount that can be conThe maximum amount that can be contributed to a simplified employee pension (SEP) plan is 25% of an employee's compensation, which is capped at a maximum, per above. | ||
| 403(b) Contribution Limits | ||
|---|---|---|
| Year | AGE 49 & BELOW | AGE 50 & ABOVE |
| 2005 | $14,000 | $18,000 |
| 2006 | $15,000 | $20,000 |
| 2007 | $15,500 | $20,500 |
| 2008 | $15,500 | $20,500 |
| 2009 | $16,500 | $22,000 |
| 2010 | $16,500 | $22,000 |
| 2011 | $16,500 | $22,000 |
| 2012 | $17,000 | $22,500 |
| 2013 | $17,500 | $23,000 |
| 2014 | $17,500 | $23,000 |
| 2015 | $18,000 | $24,000 |
| 2016 | $18,000 | $24,000 |
| 2017 | $18,000 | $24,000 |
| 2018 | $18,500 | $24,500 |
| 2019 | $19,000 | $25,000 |
| 2020 | $19,500 | $26,000 |
| 2021 | $19,500 | $26,000 |
| 2022 | $20,500 | $27,000 |
| 2023 | $22,500 | $30,000 |
| 2024 | $23,000 | $30,500 |
| Section 457 Plan Limits | ||
|---|---|---|
| Year | AGE 49 & BELOW | AGE 50 & ABOVE |
| 2005 | $14,000 | $18,000 |
| 2006 | $15,000 | $20,000 |
| 2007 | $15,500 | $20,500 |
| 2008 | $15,500 | $20,500 |
| 2009 | $16,500 | $22,000 |
| 2010 | $16,500 | $22,000 |
| 2011 | $16,500 | $22,000 |
| 2012 | $17,000 | $22,500 |
| 2013 | $17,500 | $23,000 |
| 2014 | $17,500 | $23,000 |
| 2015 | $18,000 | $24,000 |
| 2016 | $18,000 | $24,000 |
| 2017 | $18,000 | $24,000 |
| 2018 | $18,500 | $24,500 |
| 2019 | $19,000 | $25,000 |
| 2020 | $19,500 | $26,000 |
| 2021 | $19,500 | $26,000 |
| 2022 | $20,500 | $27,000 |
| 2023 | $22,500 | $30,000 |
| 2024 | $23,000 | $30,500 |
Source: IRS Retirement Plans
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