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Annual Contribution Information - image

Annual Contribution Information

2017 Traditional & Roth IRA Contribution Limits

Traditional & Roth IRA Contributions and Catch Up Provisions
Plan Name Standard Limit Catch-up Limit (Age 50 and older)
Traditional $5,500 $6,500
Roth* $5,500 $6,500


*Modified AGI Limits:
2016
Single: $118,000 - $133,000
Married Filing Jointly: $186,000 - $196,000

2017 Traditional & Roth IRA Contribution Deadline is 4/16/2018.*


2016 Traditional & Roth IRA Contribution Limits

Traditional & Roth IRA Contributions and Catch Up Provisions
Plan Name Standard Limit Catch-up Limit (Age 50 and older)
Traditional $5,500 $6,500
Roth* $5,500 $6,500


*Modified AGI Limits:
2015
Single: $117,000 - $132,000
Married Filing Jointly: $184,000 - $194,000

2016 Traditional & Roth IRA Contribution Deadline is 4/17/2017.


SEP IRA Contribution Limits

Simplified Employee Pension (SEP) IRA Contribution Limits
Year Max Dollar Allocation Max Considered Compensation
2017 $54,000 $270,000
2016 $53,000 $265,000


The maximum amount that can be contributed to a simplified pension plan (SEP) plan is 25% of an employee’s compensation, which is capped at a maximum as indicated above.

2017 SEP IRA Contribution Deadline is April 15 or until the date of tax-filing extension, if applicable.
2016 SEP IRA Contribution Deadline is April 15 or until the date of tax -filing extension (if applicable)


SIMPLE IRA Contribution Limits

Savings Incentive Match Plan for Employees (SIMPLE) IRA Contributions and Catch Up Provisions
Year Standard Limit Catch-up Limit (Age 50 and older )
2016 $12,500 $15,500
2017 $12,500 $15,500


Employers are generally required to match each employee’s salary reduction contributions, on a dollar-for-dollar basis, up to 3% of the employee’s compensation.

—Employer matching or non-elective contributions must be made by the employer’s tax filing deadline, including extensions.

—Employee elective deferral contributions must be made within 30 calendar days after the last day of the month they were withheld.

—New accounts must generally be established by Oct. 1 to be effective for that particular tax year