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IRA and Retirement Plan Limits 2021-2022

IRA and Roth IRA Contribution Limits
Contribution Limit

2021

2022

IRA and Roth IRA

$6,000

$6,000

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

2021

2022

Single

$66,000-$76,000

$68,000-$78,000

Married – Filing Jointly

$105,000-$125,000

$109,000-$129,000

Married – Filing Separately Active Participant

$0-$10,000

$0-$10,000

Married – Filing Jointly – Only Spouse Covered by Employer Plan

$198,000-$208,000

$204,000-$214,000

Phase Out Income limits for Roth IRA Contributions
Income Limit

2021

2022

Single

$125,000-$140,000

$129,000-$144,000

Married – Filing Jointly

$198,000-$208,000

$204,000-$214,000

Married – Filing Separately Active Participant

$0-$10,000

$0-$10,000

Catch-up Contributions
Catch-up Contribution Limit

2021

2022

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

$6,500

$6,500

SIMPLE IRA

$3,000

$3,000

Traditional or Roth IRA

$1,000 

$1,000 

Employer Defined Contribution Plans

2021

2022

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

$19,500

$20,500

Elective Deferral Limit – SIMPLE IRA

$13,500

$14,000

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

$58,000  (or 100% of compensation if less)

$61,000  (or 100% of compensation if less)

Total Employer/Employee Contribution Limit – SEP

$58,000 (or 25% of compensation if less)

$61,000 (or 25% of compensation if less)

SEP IRA Participant Compensation Threshold

$600

$650

Recognized Compensation for Retirement Plans

$290,000

$305,000

Determine Highly Compensated Employee

$130,000

$135,000

“Key Employee” in a Top-Heavy Plan

$185,000

$200,000

Saver's Credit
Adjusted Gross Income Limit

2021

2022

Married – Filing Jointly* 

$66,000

$68,000

Head of Household*

$49,500

$51,000

Single, Married Filing Separately, Qualifying Widow(er)*

$33,000

$34,000


* Limitation under sections 25B(b)(1)(C) and 25B(b)(1)(D)

Changes are in BOLD

Consulting your Tax-Advisor is always recommended

Nelson Securities, Inc. Member FINRA | SIPC

 

Page Last Reviewed or Updated: November 8, 2021