Contribution limits for retirement accounts


Find out the IRS limits for 2015

The IRS has announced the 2015 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and most 457 plans, as well as income limits for IRA contribution deductibility. Please review an overview of the limits below.


401(k), 403(b), and most 457 plans

 
2014
2015
Age 49 and under
$17,500
$18,000
Age 50 and older
Additional $5,500
Additional $6,000


Roth and Traditional IRA contribution limits

 
2014
2015
Age 49 and under
Up to $5,500 (must have employment compensation)
Up to $5,500 (must have employment compensation)
Age 50 and older
Additional $1,000
Additional $1,000


Traditional IRA modified adjusted gross income limit for partial deductibility

 
2014
2015
Single
$60,000-$70,000
$61,000-$71,000
Married—Filing joint returns
$96,000-$116,000
$98,000-$118,000
Married—Filing separately
$0-$10,000
$0-$10,000
Non-active participant spouse
$181,000-$191,000
$183,000-$193,000


Roth IRA modified adjusted gross income phase-out ranges*

 
2014
2015
Single
$114,000 - $129,000
$116,000 - $131,000
Married—Filing joint returns
$181,000 - $191,000
$183,000 - $193,000
Married—Filing separately
$0-$10,000
$0-$10,000
* As of 2010, there is no income limit for taxpayers who wish to convert a traditional IRA to a Roth IRA.


Next Steps

If you are not saving to the max in your workplace savings plan today, consider increasing your contribution in 2015 to the IRS limit of $18,000 to help reach your retirement savings goals.

Visit the contribution page on NetBenefits to review your current contribution rate and update it if necessary.

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