Annual Contribution Limits
The annual IRS contribution limits are increased periodically due to inflation, but they are not increased every year. Keep in mind that in some 457 plans and the TSP plan, there are a few circumstances when you can contribute above the annual limits. In addition, the maximum contribution to a Roth IRA and the maximum deductible contribution to a traditional IRA may be reduced depending upon your income.
|Product||Maximum Annual Contribution Limit|
|Traditional IRA & Roth IRA||$5,500, plus $1,000 catch-up if 50 or older|
|Traditional 401(k) & 403(b)||$18,000, plus $6,000 catch-up|
|Roth 401(k) & 403(b)||$18,000, plus $6,000 catch-up if 50 or older|
|457||$18,000, plus $6,000 catch-up if 50 or older, plus additional catch-up when approaching retirement|
|Thrift Savings Plan||$18,000, plus $6000 catch-up if 50 or older|