The tax law places dollar limits on the contributions to retirement plans and Individual Retirement Accounts (IRAs) and the amount of benefits under a pension plan. Internal Revenue Code (IRC) Section 415 requires the limits to be adjusted annually for cost-of-living increases. 

2019 2018 2017
IRA Contribution Limit $6,000 $5,500 $5,500
IRA Catch-Up Contributions (Age 50 and over) $1,000 $1,000 $1,000
IRA AGI Deduction Phase-out Starting at
Joint Return $103000 $101,000 $99,000
Single or Head of Household $64,000 $63,000 $62,000
SEP Minimum Compensation $600 $600 $600
SEP Maximum Contribution $56,000 $55,000 $54,000
SEP Maximum Compensation $280,000 $275,000 $270,000
SIMPLE Maximum Contributions $13,000 $12,500 $12,500
Catch-up Contributions (Age 50 and over) $3,000 $3,000 $3,000
401(k), 403(b), Profit-Sharing Plans, etc.
Annual Compensation $280,000 $275,000 $270,000
Elective Deferrals $19,000 $18,500 $18,000
Catch-up Contributions (Age 50 and over) $6,000 $6,000 $6,000
Defined Contribution Limits $56,000 $55,000 $54,000



Source: The Internal Revenue Service, “COLA Increases for Dollar Limitations on Benefits and Contributions”

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