2016 and 2017 401k, 403b Contribution Limits and Catch-up Amounts


[Updated with 2016 contribution limits] The IRS has released 2016 employer sponsored retirement plan limits, which covers 401(k), 403(b), and Government Thrift Savings (TSP) plans.  The  annual contribution limit, which is indexed to inflation, remained unchanged. So like 2015, the maximum amount employees will be able to contribute on a pre-tax basis in 2016 will be $18,000. The catch-up pre-tax […]

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2014 401K and IRA Contribution and Income Limits


The IRS has released updated 2014 limits for defined contribution (or pension) plans such as 401(k) and IRAs. This was delayed from the usual mid-October release due to the government shutdown. The annual limits are tied to Cost of Living Adjustment (COLA) figures and based on these the updated 2014 limits and contribution amounts are shown below […]

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When Can I Make Catch-Up Contributions to 401K, IRA, 403b and SIMPLE IRA Retirement Plans

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Catch-up contributions allow people who feel that they do not have enough of a nest egg to make higher retirement plan contributions as they approach retirement. If you are over or turning 50 in a given calender year you are eligible to make additional or catch-up contributions to your current retirement plan (401K, 403b, IRA etc). […]

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Contributing to an IRA and Roth IRA if You Already Have a 401K


This is the kind of question I get fairly often and one that I actually had to recently sort out for myself. To determine if and how much you can contribute to multiple tax advantaged accounts you need to meet differing modified adjusted gross income (MAGI) limits and qualifications as discussed below. IRS tables and links to […]

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2015 vs. 2014 HSA Contribution Limits and Tax Rules – How to Best Utilize Health Savings Accounts


[Updated with 2015 HSA limits] Based on IRS figures, here the 2015 (vs. 2014) HSA limits. HSAs have risen in popularity thanks to health-care law changes and the increasing use of high-deductible health plans (see earlier updates below). HSA plans and their equivalents have grown from just over 1 million accounts with $873 million in assets in […]

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