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Contribution Limits 2017

Maximum workplace retirement plan contribution amounts

401(k), 403(b), most 457 plans and federal Thrift Savings Plan $18,000

Catch-up contributions in these plans for people 50 and older$6,000

IRA contribution limits 

Traditional and Roth IRAs for people younger than 50 $5,500

Catch-up IRA contributions for people 50 and older $1,000

Defined benefit pension plan annual benefit limits $215,000

Annual employer limit for 401(k)-type plans, SEP IRAs and solo 401(k)s $54,000

Annual contribution limit for SIMPLE plans $12,500

Catch-up contribution limit for people age 50 and up $3,000

Adjusted gross income phaseout range of IRA deductibility 2017

Single and contributing to a workplace plan $62,000 to $72,000

Married filing jointly when the spouse making the contribution has a workplace plan $99,000 to $119,000

Married filing jointly when the contributor isn’t covered by a workplace plan but the spouse is covered $186,000 to $196,000

Married and covered by a workplace place plan but filing separately$0 to $10,000

Roth IRA income eligibility phaseout 2017

Single and head of household filers $118,000 to $133,000

Married filing jointly or qualified widow/widowers $186,000 to $196,000

Married filing separately $0 to $10,000

Retirement savings contribution credit, or saver’s credit, income limits 2017

Married filing jointly couples $61,500 to $62,000

Heads of household $46,125 to $46,500

Single taxpayers $30,750 to $31,000

Source: Internal Revenue Service


How do I rollover my IRA?

  • Become an investment client with Black Oak Wealth Management.
  • Open a IRA (obtain an account number)
  • Tell your 401k provider to send a check to our custodian, made out to TD Ameritrade Institutional - PO Box 650567 Dallas, TX 75265-0567 with your account # in the memo-line/instructions & Rep Code #ADIG
  • If your institution requires forms, we'll be happy to help you complete the necessary information, conference call the retirement plan if needed so that you can have us ask the right questions for you, etc... some people try to make things difficult. We're here to make your life easier.