2021 Retirement Plan Contribution Limits

The Internal Revenue Service announced retirement plan contribution limits for 2021.

 

Rebecca Bitting, Trust Officer

For the most part the 2021 contribution limits are unchanged from the 2020 limits. The notable changes were the increase in the Roth IRA eligibility threshold.

If you have questions or would like more details, please contact our Certified Retirement Services Professional (CRSP), Rebecca Bitting

 

Contact Rebecca: 563.388.2575

Elective Deferrals2021
401(k), 403(b), 457(b) PlansLesser of $19,500 or 100% of participant's compensation
Simple IRAsLesser of $13,500 or 100% of participant's compensation
IRA Contribution Limits2021
IRAs (Traditional or Roth)Lesser of $6,000 or 100% of earned income
Additional "Catch Up" Limits2021
401(k), 403(b), 457(b)$6,500
SIMPLE IRAs$3,000
IRAs (Traditional or Roth)$1,000
Roth IRA Compensation Limits - Income Phase Out Range2021
Single$125,000 - $140,000
Married Filing Jointly$198,000 - $208,000
Married Filing Seperately$0 - $10,000
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