2022 Retirement Plan Contribution Limits
Plan Type Under Age 50 Over Age 50
401(k), 403(b), most 457, Salary Reduction SEP $20,500 $27,000
SIMPLE $14,000 $17,000
IRA (Traditional/Roth) $6,000 $7,000
Phase Outs Phase Out Range
Traditional IRA Deduction Phase Outs: Modified Adjustment Income
Married Filing Joint $109,000 $129,000
Married Filing Joint - One Spouse is Covered at Work $204,000 $214,000
Single Or Head of Household $68,000 $78,000
Married or Filing Separately $10,000
Roth IRA Contribution Phase Outs: Modified Adjustment Income
Married Filing Joint $204,000 $214,000
Single $129,000 $144,000
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.