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).
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| Contribution Limits | ||
|---|---|---|
| Row 0 - Cell 0 | 2014 | 2015 |
| 401(k), 403(b), 457, Thrift Savings Plan contributions(not including employer contributions) | $17,500 | $18,000 |
| 401(k), 403(b), 457, Thrift Savings Plan catch-up contributions(for workers 50+) | $5,500 | $6,000 |
| 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 | ||
|---|---|---|
| Row 0 - Cell 0 | 2014 | 2015 |
| 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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