Contributions

Contribution Limits

Retirement plan owners can make yearly cash contributions to their individual IRAs and/or workplace plans. There are annual contribution limits in place by the IRS that mandate the maximum amount of money you (and your employer, if applicable) can deposit into your account.

The contribution limits for the accounts listed on this page are the maximum amounts allowable under IRS regulations. Some accounts may have additional restrictions on deposits based on your adjusted gross income (AGI). We encourage you to speak with your tax advisor to ensure eligibility to make full contributions to your retirement plan.

Account 2018 2019
Traditional/Roth IRAs    
Annual Contribution $5,500 $6,000
Catch-Up Contribution (ages 50 and older) $1,000 $1,000
SEP IRA    
Annual Contribution The lesser of $55,000 or 25% of compensation The lesser of $56,000 or 25% of compensation
SIMPLE IRA    
Employee Salary Deferral $12,500 $13,000
Salary Deferral Catch-Up Contribution (ages 50 and older) $3,000 $3,000
Employer Matching Contribution Between 1-3% of employee’s deferral Between 1-3% of employee’s deferral
Employer Non-Elective Contribution 2% of employee’s compensation 2% of employee’s compensation
401(k)/Profit-Sharing Plan    
Employee Salary Deferral $18,500 $19,000
Salary Deferral Catch-Up Contribution (ages 50 and older) $6,000 $6,000
Employer Profit-Sharing Contribution Up to 25% of salary of self-employed earnings Up to 25% of salary of self-employed earnings
Total Combined Contribution: Salary deferral plus profit-sharing match (under age 50) $55,000 $56,000
Total Combined Contribution: Salary deferral plus-profit sharing match (age 50 or older) $61,000  $62,000
Health Savings Account (HSA)    
Individual HSA $3,450 $3,500
Family HSA $6,900 $7,000
Additional Catch-Up Provision (if over age 55) $1,000 $1,000
Coverdell Education Savings Account (ESA)    
Limit Per Beneficiary $2,000  $2,000