IRA Contribution Limits

IRA investors take notice!

The IRS has made important updates for year 2015 IRA Contribution Limits. The highlights include the fact that 2015 IRA Contribution Limits remained the same at $5,500. See our chart below for more detail. And as our way of saying thank you for visiting our website, please click here for a free 30-day trial for eMoney. Through eMoney, you will have your very own personal financial homepage, where we marry the best of technology with one-on-one professional advice.

IRA Contribution Limits:
–Under age 50 at year-end: $5,500
–Age 50 or older at year-end $6,500
Traditional IRA deduction phase-out begins at AGI of (taxpayer or spouse covered by employer retirement plan):
–MFJ (covered spouse) and QW $95,000
–MFJ (non-covered spouse) $178,000
–Single and HOH $59,000
–MFS $0
Roth IRA conversion phase-out begins at AGI of:
–MFJ and QW $178,000
–Single and HOH $112,000
–MFS $0
Roth IRA conversion—AGI limit:
–All filters N/A
Simple IRA plan elective deferral limits:
–Under age 50 at year-end $12,000
401k, 403b, 457 and SARSEP elective deferral limits:
–Under age 50 at year-end $17,500
–Age 50 or older at year-end $23,000
Annual elective deferral limit* $17,500
Profit-sharing plan/SEP contribution limit $51,000
SEP comparison threshold (for coverage) $550
Annual compensation limit for profit-sharing plan and SEP Contributions $255,000
Annual benefit limit for defined benefit plan $205,000
Highly compensated employee—any employee with compensation in excess of: $115,000
Key employee—compensation in excess of:
–More than 1% owner $150,000
–Officers $165,000
ESOP extension of five-year distribution period:
–Account balance threshold $1,035,000
–Additional account balance increments $205,000
PBGC guaranteed maximum monthly benefit at age 65 $4,789.77
Retirement saver’s credit phased out at AGI of:
–MFJ $59,000
–Single, MFS, QW $29,500
–HOH $44,250
* Overall limit for sum of an individual’s elective deferrals; catch-up contributions for individuals age 50 or older are not subject to the limit.

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