Contribution Limits
FOR INDIVIDUAL RETIREMENT PLANS
Traditional IRA & Roth IRA Contribution Limits
| 2018 | 2019 | |
|---|---|---|
| For Tax Year 2019 | ||
| Under Age 50 | $5,500 | $6,000 |
| Catch-Up Contribution (Age 50 or Older) |
$1,000 | $1,000 |
| Total Contribution Amount (If Age 50 Older) |
$6,500 | $7,000 |
Traditional IRA MAGI Limits
| 2018 | 2019 | |
|---|---|---|
| For Tax Year 2019 | ||
| Single Active Participant | $63,000 - $73,000 | $64,000 - $74,000 |
| Married Active Participant (Filing Jointly) |
$101,000 - $121,000 | $103,000 - $123,000 |
| Married Active Participant (Filing Separately) |
$0 - $10,000 | $0 - $10,000 |
| Nonactive Participant, Married to Active Participant (Filing Jointly) |
$189,000 - $199,000 | $193,000 - $203,000 |
Roth IRA MAGI Phase-Out Ranges
| 2018 | 2019 | |
|---|---|---|
| For Tax Year 2019 | ||
| Single Individuals | $120,000 - $135,000 | $122,000 - $137,000 |
| Married (Filing Jointly) |
$189,000 - $199,000 | $193,000 - $203,000 |
| Married (Filing Separately) |
$0 - $10,000 | $0 - $10,000 |
FOR SMALL BUSINESS RETIREMENT PLANS
SEP IRA Contribution Limits
| 2018 | 2019 | |
|---|---|---|
| For Tax Year 2019 | ||
| Employer Contribution Limits | Up to 25% of Compensation ($55,000 Maximum)* |
Up to 25% of Compensation ($56,000 Maximum)* |
*The employer can contribute up to 25% of your compensation up to the maximum limit. Employer contributions may not exceed $55,000 for 2018 and $56,000 for 2019. Compensation limits and deductibility apply. Please contact your employer for further information.
SIMPLE IRA Contribution Limits
| 2018 | 2019 | |
|---|---|---|
| For Tax Year 2019 | ||
| Employer Contribution Limits* | Up to 3% of Compensation ($12,500 Maximum)* |
Up to 3% of Compensation ($13,000 Maximum)* |
| Employee Contribution Limit | $12,500 | $13,000 |
| Employee Catch-Up Contribution (Age 50 or Older) |
$3,000 | $3,000 |
Employer contributions are in addition to your elective deferrals. *Employers can choose from one of three contribution options: 1) Match employee deferrals dollar-for-dollar, up to three percent of the employee’s compensation (compensation includes employee deferrals); 2) Two percent nonelective contribution to all eligible employees (even to those employees who decided not to defer) who have a minimum of $5,000 compensation from the employer for the year**; or 3) Elect to match a lower percentage (but not lower than one percent). This option is allowed for only two years of any five-year period***
**The two percent nonelective contribution is based on two percent of the eligible employee’s compensation, up to the compensation cap. For 2018, the compensation cap is $275,000 and for 2019, the compensation cap is $280,000. ***The five-year period includes the current year and the prior four years. If during the five-year period there are years where the SIMPLE IRA plan was not yet established or the employer made nonelective contributions to the plan, the employer is considered as having satisfied the three percent matching contribution requirement for those specific years.
Individual 401(k) Plan Contribution Limits
| 2018 | 2019 | |
|---|---|---|
| For Tax Year 2019 | ||
| Employer Contribution Limits | $55,000* | $56,000* |
| Employee Elective Deferrals | $18,500 | $19,000 |
| Employee Catch-Up Deferral (Age 50 or Older) |
$6,000 | $6,000 |
*The employer can contribute up to 25% of your compensation up to the maximum limit. Employer contributions and employee elective deferrals in aggregate may not exceed $55,000 for 2018 and $56,000 for 2019 combined. Compensation limits and deductibility apply. Please contact your employer for further information.
ROTH IRA and 401k Contribution Limits | 401k ROTH Contribution Limits