2019 IRA and 401k Contribution Limits

Contribution Limits

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%)

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