IRA and Retirement Plan Limits 2016-2017

Source: IRS

IRA and Roth IRA Contribution Limits
Contribution Limit

2016

2017

IRA and Roth IRA

$5,500

$5,500

Phase Out Income Limits for Deductible IRA Contributions – Covered by Employer Plan
Tax Filing Status

2016

2017

Single

$61,000-$71,000

$62,000-$72,000

Married – Filing Jointly

$98,000-$118,000

$99,000-$119,000

Married – Filing Separately

$0-$10,000

$0-$10,000

Married – Filing Jointly – Only Spouse Covered by Employer Plan

$184,000-$194,000

$186,000-$196,000

Phase Out Income limits for Roth IRA Contributions
Income Limit

2016

2017

Single

$117,000-$132,000

$118,000-$133,000

Married – Filing Jointly

$184,000-$194,000

$186,000-$196,000

Married – Filing Separately

$0-$10,000

$0-$10,000

Catch-up Contributions
Catch-up Contribution Limit

2016

2017

401(k), 403(b), 457(b) and SARSEP

$6,000

$6,000

SIMPLE IRA

$3,000

$3,000

Traditional or Roth IRA

$1,000 (not indexed)

$1,000 (not indexed)

Employer Defined Contribution Plans

2016

2017

Elective Deferral Limit – 401(k), 403(b), 457(b) and SARSEP

$18,000

$18,000

Elective Deferral Limit – SIMPLE IRA

$12,500

$12,500

Total Employer/Employee Contribution Limit – 401(k), 403(b), and 457(b) plans

$53,000 (or 100% of
compensation if less)

$54,000  (or 100% of compensation if less)

Total Employer/Employee Contribution Limit – SEP

$53,000 (or 25% of
compensation if less)

$54,000 (or 25% of compensation if less)

SEP IRA Participant Compensation Threshold

$600

$600

Recognized Compensation for Retirement Plans

$265,000

$270,000

Determine Highly Compensated Employee

$120,000

$120,000

“Key Employee” in a Top-Heavy Plan

$170,000

$175,000

Saver's Credit
Adjusted Gross Income Limit

2016

2017

Married – Filing Jointly

$61,500

$62,000

Head of Household

$46,125

$46,500

Single, Married Filing Separately, Qualifying Widow(er)

$30,750

$31,000

Changes are in BOLD

Consulting your Tax-Advisor is always recommended

Nelson Securities, Inc. Member FINRA

 

Page Last Reviewed or Updated: November 9, 2016