Retirement Plan Contribution Limits in 2015

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How Much You Can Contribute to Retirement Plans in 2015

You’ll be able to contribute more to employer plans, but IRA contribution limits will remain the same.


How much can I contribute to my IRA and 401(k) in 2015?

The contribution limits for your 401(k) will be higher in 2015 than in 2014. The maximum you’ll be able to stash in a 401(k), 403(b), 457 or the federal government’s Thrift Savings Plan will increase by $500, to $18,000 in 2015. The catch-up contribution limit for anyone who turns 50 in 2015 will also increase, from $5,500 to $6,000 (for a maximum contribution of $24,000).

SEE ALSO: Are You Saving Enough for Retirement?

The IRA contribution limit will remain $5,500 per person in 2015 (or $6,500 if you turn age 50 anytime during the year).

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Income limits also get a boost. The cut-off for contributing to a Roth IRA will rise from an adjusted gross income of $191,000 to $193,000 if married filing jointly, and from $129,000 to $131,000 if single. The size of your contribution will start to phase out if you earn more than $183,000 if married filing jointly (up from $181,000 in 2014) or $116,000 if single (up from $114,000).

The income cut-off to qualify for the retirement savers’ credit will go up slightly, from an AGI of $60,000 to $61,000 if married filing jointly, and from $45,000 up to $45,750 for heads up household. For married individuals filing separately and for singles, the income cut-off will go from $30,000 to $30,500.

For more information about the 2015 retirement-plan figures, see this IRS announcement.

Contribution Limits
401(k), 403(b), 457, Thrift Savings Plan contributions
(not including employer contributions)
401(k), 403(b), 457, Thrift Savings Plan catch-up contributions
(for workers 50+)
IRA and Roth IRA contributions$5,500$5,500
IRA and Roth IRA catch-up contributions (for workers 50+)$1,000$1,000
Solo 401(k)$52,000$53,000
Solo 401(k) catch-up contributions (for workers 50+)$5,500$6,000
Simplified Employee Pension$52,000$53,000
Income Limits
Roth IRA, married filing jointly$191,000$193,000
Roth IRA, singles$129,000$131,000
Retirement savers’ credit, married filing jointly$60,000$61,000
Retirement savers’ credit, head of household$45,000$45,750
Retirement savers’ credit, single or married filing separately$30,000$30,500

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