Retirement Contributions for 2017 and 2018

The table below are the retirement contribution limits for 2017 and 2018.  Individuals have until the due date of their tax return (April 17, 2018 for 2017 Individual Income Tax Returns) for certain retirement plans.  In addition, certain individuals may qualify for the retirement savers tax credit for their contributions.  Additional catch up contributions may be allowed for those 50 years and older.  Certain income limitations may apply, please contact us with additional questions.

RETIREMENT CONTRIBUTIONS 2017 2018
IRA Contributions
Base Contribution $5,500 $5,500
Age 50 Catch Up $1,000 $1,000
Simple IRA
Base Contribution $12,500 $12,500
Age 50 Catch Up $3,000 $3,000
401(k), 403(b), 457 Plan
Base Contribution $18,000 $18,500
Age 50 Catch Up $6,000 $6,000
Defined Contribution – Limit $54,000 $55,000

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