IRA and Retirement Plan Limits 2017-2018

Source: IRS

IRA and Roth IRA Contribution Limits
Contribution Limit

2017

2018

IRA and Roth IRA

$5,500

$5,500

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

2017

2018

Single

$62,000-$72,000

$63,000-$73,000

Married – Filing Jointly

$99,000-$119,000

$101,000-$121,000

Married – Filing Separately

$0-$10,000

$0-$10,000

Married – Filing Jointly – Only Spouse Covered by Employer Plan

$186,000-$196,000

$189,000-$199,000

Phase Out Income limits for Roth IRA Contributions
Income Limit

2017

2018

Single

$118,000-$133,000

$120,000-$135,000

Married – Filing Jointly

$186,000-$196,000

$189,000-$199,000

Married – Filing Separately

$0-$10,000

$0-$10,000

Catch-up Contributions
Catch-up Contribution Limit

2017

2018

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

2017

2018

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

$18,000

$18,500

Elective Deferral Limit – SIMPLE IRA

$12,500

$12,500

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

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

$55,000  (or 100% of compensation if less)

Total Employer/Employee Contribution Limit – SEP

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

$55,000 (or 25% of compensation if less)

SEP IRA Participant Compensation Threshold

$600

$600

Recognized Compensation for Retirement Plans

$270,000

$275,000

Determine Highly Compensated Employee

$120,000

$120,000

“Key Employee” in a Top-Heavy Plan

$175,000

$175,000

Saver's Credit
Adjusted Gross Income Limit

2017

2018

Married – Filing Jointly

$62,000

$63,000

Head of Household

$46,500

$47,250

Single, Married Filing Separately, Qualifying Widow(er)

$31,000

$31,500

Changes are in BOLD

Consulting your Tax-Advisor is always recommended

Nelson Securities, Inc. Member FINRA

 

Page Last Reviewed or Updated: October 25, 2017