2020 Retirement Contribution Limits

2020 Retirement Contribution Limits

November 18, 2019

By Matthew E. Miller, CPA, MBA

2020 Retirement Contribution Limits

Contribution Limits 2020
401(k), 403(b), 457(b) or SARSEP Salary Deferral. $19,500
*Total deferral with catch up for employees 50 and over $26,000
Traditional and Roth IRA1 $6,000
*Total contribution with catch up for taxpayers 50 and over $7,000
Simple Salary Deferral $13,500
*Total deferral with catch up for employees 50 and over $16,500

For IRA contributions, taxpayers are subject to the following income limitations

IRA PHASEOUT reflects 2020 Limits Single Married Filing Jointly
Traditional IRA Contribution Limit $65,000 – $75,000 $104,000 – $124,000
Roth IRA Contribution Limit $122,000 – 137,000 $193,000 – $203,000
Traditional IRA – One spouse not covered by an employer plan $193,000 – $203,000
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