Federal Retirement Account Tax Tables

2019

RETIREMENT ACCOUNT CONTRIBUTION LIMITS
Plan Type Regular Catch-Up (Age 50+)
Roth IRA $6,000 $7,000
Traditional IRA $6,000 $7,000
401(k) & 403(b) $19,000 $25,000
457 Plans $19,000 $25,000
SIMPLE IRA $13,000 $16,000
Defined Contribution $56,000

 

TRADITIONAL IRA CONTRIBUTION DEDUCTION LIMITS ON QUALIFIED RETIREMENT PLAN PARTICIPANTS1
Filing Status Phase-out Begins No Contribution Permitted
Single $64,000 $74,000
Married, Filing Separately $0 $10,000
Married, Filing Jointly $103,000 $123,000

 

ROTH IRA CONTRIBUTION DEDUCTION LIMITS
Filing Status Phase-out Begins No Contribution Permitted
Single $122,000 $137,000
Married, Filing Separately $0 $10,000
Married, Filing Jointly $193,000 $203,000

 

OTHER PLANS & COMPENSATION
Defined Benefit Plan Annual Benefit Limit $225,000
Highly Compensated Employee Under 414(q)(1) $125,000
Foreign Earned Income Exclusion $105,900

 

2018

RETIREMENT ACCOUNT CONTRIBUTION LIMITS
Plan Type Regular Catch-Up (Age 50+)
Roth IRA $5,500 $6,500
Traditional IRA $5,500 $6,500
401(k) & 403(b) $18,500 $24,500
457 Plans $18,500 $24,500
SIMPLE IRA $12,500 $15,500
Defined Contribution $55,000

 

TRADITIONAL IRA CONTRIBUTION DEDUCTION LIMITS ON QUALIFIED RETIREMENT PLAN PARTICIPANTS1
Filing Status Phase-out Begins No Contribution Permitted
Single/Head of Household/Married, Filing Separately (did not live w/spouse) $63,000 $73,000
Married, Filing Separately (lived w/spouse at any time during year) $0 $10,000
Married, Filing Jointly $101,000 $121,000

 

ROTH IRA CONTRIBUTION DEDUCTION LIMITS
Filing Status Phase-out Begins No Contribution Permitted
Single/Head of Household/Married, Filing Separately (did not live w/spouse) $120,000 $135,000
Married, Filing Separately (lived w/spouse at any time during year) $0 $10,000
Married, Filing Jointly $189,000 $199,000

 

OTHER PLANS & COMPENSATION
Defined Benefit Plan Annual Benefit Limit $220,000
Highly Compensated Employee Under 414(q)(1) $120,000
Foreign Earned Income Exclusion $104,100

 

1Taxpayers who do not participate in qualified retirement plans can fully deduct contributions to an IRA

 

The information presented here is not intended to be a comprehensive analysis. Cherry Bekaert Benefits Consulting is a benefits advisory firm and does not provide tax or legal advice. Individuals or Employers should consult with qualified legal and/or tax counsel for guidance in respect of matters of law, tax and related regulation.

Cherry Bekaert Benefits Consulting, LLC is a Chernoff Diamond Affiliate. Chernoff Diamond & Co., LLC is a Managing Member of Cherry Bekaert Benefits Consulting. Chernoff Diamond & Co., LLC offers Investment Advisory Services through M Holdings Securities, Inc., A Registered Broker/Dealer, Member FINRA/SIPC. Check the background of this Firm and/or investment professional on FINRA's BrokerCheck. Chernoff Diamond & Co., LLC is independently owned and operated. Chernoff Diamond & Co., LLC, is a member of M Financial Group. Please visit mfin.com/DisclosureStatement.htm for further details involving this relationship.

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