IRA and Retirement Plan Limits 2017-2018
| 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 | $55,000 (or 100% of compensation if less) |
| Total Employer/Employee Contribution Limit – SEP | $54,000 (or 25% of | $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 | SIPC
Page Last Reviewed or Updated: October 25, 2017