2016 LIMITS

Limit on employee contributions to 401(k), 403b, or 457 plan $18,000

Limit on age 50+ catchup contributions to 401(k), 403b, or 457 plan$6,000

Traditional and Roth IRA contribution limit $5,500

Traditional and Roth IRA age 50+ catchup contribution limit $1,000

SIMPLE 401(k) or SIMPLE IRA contributions limit $12,500

SIMPLE 401(k) or SIMPLE IRA age 50+ catchup contributions limit $3,000

Maximum annual additions to all defined contribution plans by the same employer $53,000

Highly Compensated Employee definition $120,000

Deductible IRA income limit, active participant in workplace retirement plan, single $61,000 – $71,000

Deductible IRA income limit, active participant in workplace retirement plan, married filing jointly $98,000 – $118,000

Deductible IRA income limit, spouse is active participant in workplace retirement plan $184,000 – $194,000

Roth IRA income limit, single $117,000 – $132,000

Roth IRA income limit, married filing jointly $184,000 – $194,000