2020 Contribution Limits for Retirement Plans

The IRS has issued the 2020 contribution limits for retirement plans:

  • 2020 regular contributions to a 457(b), 401(k), or 403(b): $19,500
  • The over age 50 provision is $6,500 for a total of $26,000
  • The IRA & Roth IRA annual contribution limit remains at $6,000 and $7,000 (over age 50)

2020 phase out ranges for Roth IRA contributions are as follows:

  • Married filing joint $196,000 to $206,000
  • Single and Head of Household $124,000 to $139,000
  • Married filing separate $0 to $10,000

For other retirement plan limitations see IRS Notice 2019-59.