Tax Year 2018

Account Type Requirements Contribution Limit Helpful Articles
Traditional or Roth IRA Contribution

(subject to phaseouts, limited by wages)

Age 49 and under $5,500 Should I Fund a Roth or a Traditional Account?

Do Large Roth Conversions Require Backdoor Roth Contributions?

Age 50 and over $6,500
Employee Elective Deferral
401(k) or 403(b) plans
Age 49 and under $18,500 Choosing Between Your Employee Retirement Account Options

Is Funding My 401(k) Match Sufficient to Fund My Retirement?

Age 50 and over $24,500
Employee Deferred Compensation
457(b) plans
Age 49 and under $18,500 There also may be special 457(b) catch-up contributions when you are 3 years prior to the plan’s specified retirement age.
Age 50 and over $24,500
Employee Elective Deferral
SIMPLE 401(k) or IRA Plan
(with further limitations)
Age 49 and under $12,500
Age 50 and over $15,500
SEP IRA Employer Contribution

401(k), 403(b), or 457 plans Employer Contribution

The smaller of: $55,000

or 25% of compensation

Can I Contribute to Both a SEP and a 401(k)?

Service: Retirement Plan Management

Health Savings Account (HSA) Contribution Single Plan Age 54 and under $3,450 When Should You Stop Funding Your HSA?

Service: Health Savings Account Advice

Age 55 and over $4,450
Family Plan Age 54 and under $6,900
Age 55 and over $7,900

Tax Year 2019

Account Type Requirements Contribution Limit Change from 2018
Traditional or Roth IRA Contribution

(subject to phaseouts, limited by wages)

Age 49 and under $6,000 +$500 to base contribution limit

catch-up remains at $1,000

Age 50 and over $7,000
Employee Elective Deferral
401(k) or 403(b) plans
Age 49 and under $19,000 +$500 to base contribution limit

catch-up remains at $6,000

Age 50 and over $25,000
Employee Deferred Compensation
457(b) plans
Age 49 and under $19,000 +$500 to base contribution limit

catch-up remains at $6,000

Age 50 and over $25,000
Employee Elective Deferral
SIMPLE 401(k) or IRA Plan
(with further limitations)
Age 49 and under $13,000 +$500 to base contribution limit

catch-up remains at $3,000

Age 50 and over $16,000
SEP IRA Employer Contribution

401(k), 403(b), or 457 plans Employer Contribution

The smaller of: $56,000

or 25% of compensation

+$1,000 to base contribution limit
Health Savings Account (HSA) Contribution Single Plan Age 54 and under $3,500 +$50 to base single contribution limit

+$100 to base family contribution limit

catch-up remains at $1,000

Age 55 and over $4,500
Family Plan Age 54 and under $7,000
Age 55 and over $8,000

 

You can find the IRS page on the same topic here: Retirement Topics – Contributions

Previous years:

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