Limits

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

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[Updated with 2016 and 2017 contribution limits] The IRS has released updated 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 over the last 2 years. So like 2015, the maximum amount employees will be able to contribute on a pre-tax basis in […]

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2014 401K and IRA Contribution and Income Limits

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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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2013 401k, IRA, SEP and Simple IRA Retirement Plan Contribution and Income Limits

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The IRS has published 2013 retirement plan limits following the release of Cost of Living Adjustment (COLA) figures for next year.  This was the second consecutive year of increases to contribution limits, as shown in the table below.  With the new $17,500 limit, employees enrolled in an employee sponsored retirement plan (401k, 403b, and Thrift Savings […]

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2012 vs. 2013 IRA Maximum Contribution, Income and Deduction Limits Factoring in Employer Coverage Restrictions

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I’ve written a fair bit on tax-advantaged individual retirement plans, but still keep getting lots of questions on this topic. This is likely due to two main factors. One, thanks to the complexities of our tax code, it is not always easy to find current and applicable IRA/401K information. Secondly, because you can have multiple […]

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2017 vs 2016 HSA Contribution Limits and Tax Rules For High deductible Health Insurance Plans and Health Savings Accounts

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[Updated with latest HSA limits] Based on IRS figures, here are the latest 2016 and 2017 HSA limits.  The $50 increase in the 2017 HSA contribution limit for individuals is the only change from 2016. HSAs have risen in popularity thanks to health-care law changes and the increasing use of high-deductible health plans (see earlier updates below). […]

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2015 vs. 2014 Roth IRA Contribution and Income Limits plus Conversion Rollover Rules

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[Updated with 2015 Roth IRA limits and new IRS IRA roll-over rules] This IRS has published the 2015 Roth IRA contribution limits and deduction income thresholds. The contribution limit remained unchanged from 2014, but income levels rose in line with inflation. The IRS did however update the Roth IRA rollover rules which I discuss below as […]

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