IRS 2020 Retirement Plan Contributions

Maximum workplace retirement plan contribution amounts

2020

2019

401(k), 403(b), most 457 plans and federal Thrift Savings Plan

$19,500

$19,000

Catch-up contributions in these plans for people 50 and older

$6,500

$6,000

 

IRA contribution limits

2020

2019

Traditional and Roth IRAs for people younger than 50

$6,000

$6,000

Catch-up IRA contributions for people 50 and older

$1,000

$1,000

Defined benefit pension plan annual benefit limits

$230,000

$220,000

Annual employer limit for 401(k)-type plans, SEP IRAs and solo 401(k)s

$57,000

$56,000

Annual contribution limit for SIMPLE plans

$13,500

$13,000

Catch-up contribution limit for people age 50 and up

$3,000

$3,000

 

Adjusted gross income phaseout range of IRA deductibility

2020

2019

Single and contributing to a workplace plan

$65,000
 to $75,000

$64,000
 to $74,000

Married filing jointly when the spouse making the contribution has a workplace plan

$104,000
to $124,000

$103,000
to $123,000

Married and covered by a workplace place plan but filing separately

$0 to $10,000

$0 to $10,000

 

Roth IRA income eligibility phaseout

2020

2019

Single and head of household filers

$124,000
to $139,000

$122,000
to $137,000

Married filing jointly or qualified widow/widowers

$196,000,000
to $206,000

$193,000
to $203,000