IRS Tax Code Limits
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Max elective deferral to retirement plans (401k, 402g, 403b, 457) $ 18,000
401k, 402g, 403b & 457 age 50+ catch-up contribution 6,000
Maximum IRA contribution limit 5,500
IRA age 50+ catch-up contribution 1,000
Maximum elective deferral to SIMPLE IRA plan 12,500
Simple IRA age 50+ catch-up contribution limit 3,000
SEP IRA minimum compensation amount 600
SEP IRA Annual compensation limit 265,000
Defined contribution plan annual additional limit 53,000
Highly compensated employee compensation limit 120,000
Annual retirement benefit (ESOP) limit under defined benefit plan
(not to exceed 100% of compensation) 210,000
Definition of key employee in a top-heavy plan 170,000
Deferral compensation plans of state and local
Social Security Taxable Wage Base 118,500
IRA’s
Phase-out Range for Deductible Contributions to Traditional IRA
Married Filing Jointly
Both spouses participating in qualified plan $ 98,000 – $118,000
One spouse participating in qualified plan $183,000 – $193,000
Single & Head of Household cover by a plan $ 61,000 – $ 71,000
Married and Filing Separately* $ 0 – $ 10,000
Phase-out Range for Eligible Contributions to Roth IRA
Married Filing Jointly $183,000 – $193,000
Single & Head of Household cover by a plan $116,000 – $131,000
Married and Filing Separately* $ 0 – $ 10,000
(*) And did NOT live with spouse during the year!
Data Source: www.irs.gov
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