How much can I contribute?

You can contribute any amount you want to your workplace savings plan…up to certain IRS and plan limits. Simply find your plan type at the top of this chart; then read down for your 2014 contribution limits.

Plan Types > 401(k) 403(b) 457(b) Simple IRA 
Annual contribution limit$17,500$17,500$17,500$12,000
Additional catch-up amount for those age 50 or older$5,500$5,500$5,500*$2,500
Lifetime catch-up contributions$3,000
Double limit catch-up contributions$17,500



* Not available for employees of tax-exempt employers.

Your employer-sponsored retirement plan(s) may have additional limits or restrictions. Some plans allow you to contribute on an after-tax basis as well. Please check with your plan administrator or read your plan information for details.

The 403(b) lifetime catch-up contributions are available to employees who have completed 15 or more years of service and have contributed, on average, less than $5,000 a year to their 403(b) plan. This catch-up provision allows participants to contribute up to $3,000 in 2014 in addition to the regular contribution limit (up to a lifetime catch-up limit of $15,000).

The $5,500 Age 50 Catch-Up for a 457(b) plan is not available to employees of a tax-exempt employer.
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