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.
