401k Contributions
• 2019 limit is $19,000
• Catch-up contribution is $6,000
IRA Contributions
• Roth: Contribution limit $6,000
• Traditional: Contribution limit $6,000
• Catch-up: Stayed the same at $1,000
Traditional IRA Deductibility
Single filers covered by employer plan
MAGI Range: $64,000 – $74,000
Married couples filing jointly, contributor covered by employer plan
MAGI Range: $103,000 – $123,000
Joint filer / spouse not covered by employer plan¹
MAGI Range: $193,000 – $203,000
¹Must be under age 70½. Must have earned income.
Roth IRA Eligibility
Single filers
MAGI Range: $122,000 – $137,000
Married couples filing jointly
MAGI Range: $193,000 – $203,000
SEP IRA Contributions
• Company may contribute up to 25% of compensation or $56,000, whichever is less
(Source: irs.gov)
SIMPLE IRA Contributions
• Salary deferral up to $13,000
• $3,000 catch-up contribution if age 50 or older
Employer match (up to 3%) or nonelective contribution (2%)
