2016 Contribution Limits for Retirement Plans,

 IRA's, HSA's and ESA's

 

Below are the MAXIMUM contribution limits to qualified retirement plans, Roth and traditional IRA's, health savings accounts (HSA's) and Coverdell education savings accounts (ESA's) for tax year 2016.

2016 Qualified Retirement Plan Maximum Contribution Limits
Plan Type If UNDER Age 50 If Age 50 or Older
401(k) $18,000 $24,000
403(b) $18,000 $24,000
457 $18,000 $24,000
Thrift Savings $18,000 $24,000
SARSEP $18,000 $24,000
501(c)(18)(D) $18,000 $18,000
SIMPLE 401(k) $12,500 $15,500
SIMPLE IRA $12,500 $15,500
2016 Roth and Traditional IRA Contribution Limits
IRA Type If UNDER Age 50 If Age 50 or Older
Traditional $5,500 $6,500
Roth $5,500 $6,500
2016 Health Savings Account (HSA) Contribution Limits
Type If UNDER Age 55 If Age 55 or Older
Individual $3,350 $4,350
Family $6,750
$7,750 for ONE Spouse
$8,750* for BOTH Spouses

*If BOTH spouses are age 55 or older, the additional $1,000 can only be contributed to his or her own HSA.

Coverdell Education Savings Account (ESA)
2016 Maximum Contribution Limit
$2,000