IRS Contribution Limit
2011 and 2012 Traditional/Roth IRA Contribution Limits
| Traditional & Roth IRAs | |||
| Plan Name | Standard Limit | Catch-up Limit (Age 50 and older ) | |
| Traditional | $5,000 | $6,000 | |
| Roth* | $5,000 | $6,000 | |
| *MAGI Limits: 2011 Single: $107,000 - $122,000 Married Filing Joint: $169,000 - 179,000 2012 Single: $110,000 - $125,000 Married Filing Joint: $173,000 - 183,000 |
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2011 and 2012 SEP IRA Contribution Limits
| SEP (Simplified Employee Pension) IRA Limits | |||
| Year | Max Dollar Allocation | Max Considered Compensation | |
| 2011 | $49,000 | $245,000 | |
| 2012 | $50,000 | $250,000 | |
| The maximum amount that can be contributed to a simplified pension plan (SEP) plan is 25% of an employee's compensation, which is capped at a maximum as indicated above. | |||
2011 and 2012 SIMPLE IRA Contribution Limits
| Simple IRA | ||
| Year | Standard Limit | Catch-up Limit (Age 50 and older ) |
| 2011 | $11,500 | $14,000 |
| 2012 | $11,500 | $14,000 |
| Employers are generally required to match each employee's salary reduction contributions, on a dollar-for-dollar basis, up to 3% of the employee's compensation. | ||
2011 and 2012 401(k) and Solo(k) Contribution Limits
| 401(k) & Solo(k) Plans : Employee Salary Deferral Limits | ||
| Year | Standard Limit | Catch-up Limit (Age 50 and older) |
| 2011 | $16,500 | $22,000 |
| 2012 | $17,000 | $22,500 |
| Employer can contribute up to $32,500 in 2011. Employer can contribute up to $33,000 in 2012. |
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2011 and 2012 Coverdell Education Savings Account (CESA) Contribution Limits
| CESA (Coverdell Educational Savings Account) | |
| Standard Limit (up to age 18) |
MAGI Limits to qualify for account |
| $2,000 | Single: $95,000 - $110,000 Married Filing Joint: $190,000 - $220,000 |
2011 Health Savings Account Contribution Limits
| HSA (Health Savings Account) | |||
| High Deductible Health Plan Coverage |
Standard Limit (up to age 18) |
Catch-up Limit (Age 55 - 65, 65 and older if you qualify) |
|
| Individual (Self Only) | $3,050 | $4,050 | |
| Family | $6,150 | $7,150 | |
| Health Plan Requirements | |||
| High Deductible Health Plan Coverage |
Minimum Deductible of at Least: |
Annual Out-of-Pocket Expense Limit | |
| Individual (Self Only) | $1,200 | $5,950 | |
| Family | $2,400 | $11,900 | |
2012 Health Savings Account Contribution Limits
| HSA (Health Savings Account) | |||
| High Deductible Health Plan Coverage |
Standard Limit (up to age 18) |
Catch-up Limit (Age 55 - 65, 65 and older if you qualify) |
|
| Individual (Self Only) | $3,100 | $4,100 | |
| Family | $6,250 | $7,250 | |
| Health Plan Requirements | |||
| High Deductible Health Plan Coverage |
Minimum Deductible of at Least: |
Annual Out-of-Pocket Expense Limit | |
| Individual (Self Only) | $1,200 | $6,050 | |
| Family | $2,400 | $12,100 | |
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