Retirement Plan Contribution Limits: 401(k), SIMPLE IRA, SEP IRA, 403b, and 457
Summary: Discover the contribution limits and catch-up options for various retirement plans, including 401(k), SIMPLE IRA, SEP IRA, 403b, and 457.
| Name of Retirement Plan | Basic Contribution Limit | Age 50 and up Catch-Up | Basic + Age Fifty |
|---|---|---|---|
| 401(k) Retirement Plan | $22,500 per year deferral | $7,500 per year | $30,000 |
| SIMPLE IRA Retirement Plan | $15,500 per year deferral | $3,500 per year | $19,000 |
| SEP IRA Retirement Plan | Cannot exceed the lesser of: 25% of compensation, or $66,000 per year | N/A | N/A |
| 403b Retirement Plan | $22,500 per year deferral | $7,500 per year | $30,000 |
| 457 Retirement Plan | $22,500 per year deferral | $7,500 per year | $30,000 |
| Public School Employees Are Eligible for Both a 403b and 457 | $45,000 per year deferral | $15,000 per year | $60,000 |
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Tim has offices in Boston and South Dartmouth, Massachusetts. He’s licensed to handle securities in 8 states: Massachusetts, Rhode Island, New Hampshire, New York, New Jersey, Connecticut, Maine, and Florida.
