Retirement Plan Limits
You can save for retirement up to the maximum dollar limit. Maximum contributions vary by the type of retirement plan:
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Traditional or Roth IRA: $5,000 ($6,000 if age 50 or older)
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SEP IRA: 25% of wages, or 20% of net SE if self-employed, up to $49,000
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SIMPLE IRA: $11,500 ($14,000 if age 50 or older)
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401(k) plan: $16,500 ($22,000 if age 50 or older)
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403(b) plan: $16,500 ($22,000 if age 50 or older)
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457 plan: $16,500 ($22,000 if age 50 or older)
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Defined Contribution Pension: $49,000
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Defined Benefit Pension: $195,000
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If you fund both a traditional and Roth IRA, your total contribution to cannot exceed $5,000 combined (or $6,000 if age 50 or older).