Retirement Plan Limit updates for 2015

401(k) and 403(b) Plans – $18,000. or $24,000 if over age 50

Max Contribution Limits (you and employer)- $53,000, based on $265,000 maximum income.

SEP Plans use the same maximum – 25% up to $53,000.

SIMPLE IRA’s- $12,500, or $15,500 if over age 50

TRADITIONAL IRA and ROTH IRA Limits- no change, $5,500, $6,500 if over age 50.