2016 Retirement Plan Contribution Limits
Plan Type Under Age 50 Over Age 50
401(k), 403(b), 457, Salary Reduction SEP $18,000 $24,000
SIMPLE $12,500 $15,500
IRA (Traditional/Roth) $5,500 $6,500
Employer-sponsored plans may have additional contribution limits. Not all employer plans allow the higher contributions amount for those aged 50 and older.

The IRA limitation caps a person's combined contributions to traditional and Roth IRAs for the year.