Contribution Limits

The deadline to make a 2019 contribution is April 15th, 2020.

2019 Contribution Limits

Traditional/Roth IRAs
Annual Contribution:$6,000
Catch-Up Contribution:$1,000
SEP IRA
Annual Contribution:25% of net earnings up to $56,000
SIMPLE IRA
Employee Salary Deferral:$13,000
Salary Deferral Catch-Up Contribution:$3,000
Employer Matching Contribution:Between 1-3% of employee’s deferral
Employer Non-Elective Contribution:2% of employee’s compensation
401(k)/Profit-Sharing Plan
Employee Salary Deferral:$19,000
Salary Deferral Catch-Up Contribution (ages 50 and older):$6,000
Employer Profit-Sharing Contribution:Up to 25% of salary of self-employed earning
Total Combined Contribution-Salary Deferral plus Profit Sharing Match (under age 50):$56,000
Total Combined Contribution-Salary Deferral plus Profit Sharing Match (ages 50 or older):$62,000
Health Savings Account (HSA)
Individual HSA Account:$3,500
Family HSA Account:$7,000
Additional Catch-Up Provision:$1,000
Education Savings Account (ESA)
Annual Contribution (per beneficiary):$2,000

2020 Contribution Limits

Traditional/Roth IRAs
Annual Contribution:$6,000
Catch-Up Contribution:$1,000
SEP IRA
Annual Contribution:25% of net earnings up to $57,000
SIMPLE IRA
Employee Salary Deferral:$13,500
Salary Deferral Catch-Up Contribution:$3,000
Employer Matching Contribution:Between 1-3% of employee’s deferral
Employer Non-Elective Contribution:2% of employee’s compensation
401(k)/Profit-Sharing Plan
Employee Salary Deferral:$19,500
Salary Deferral Catch-Up Contribution (ages 50 and older):$6,500
Employer Profit-Sharing Contribution:Up to 25% of salary of self-employed earning
Total Combined Contribution-Salary Deferral plus Profit Sharing Match (under age 50):$57,000
Total Combined Contribution-Salary Deferral plus Profit Sharing Match (ages 50 or older):$63,500
Health Savings Account (HSA)
Individual HSA Account:$3,550
Family HSA Account:$7,100
Additional Catch-Up Provision:$1,000
Education Savings Account (ESA)
Annual Contribution (per beneficiary):$2,000