Retirement Plans

IRA contribution limits:

               Under age 50 at year end $5000

               Age 50 or older at year end $6000

Traditional IRA deduction phase-out begins at AGI of:

               MFJ and QW $90,000

               MFJ (Non-employee covered spouse)  $169,000

               Single and HOH $56,000

               MFS $0

Roth IRA contribution phase-out begins at AGI of:

               MFJ and QW $169,000

               Single and HOH $107,000

               MFS $0

Simple IRA plan elective deferral limits:

               Under age 50 at year end $11,500

               Age 50 or older at year end  $14,500

Profit-sharing plan/SEP contribution limit $49,000

Compensation limit (for employer contributions to profit sharing plans) $245,000

Defined benefit plans – annual benefit limit $195,000

Retirement saver’s credit phased-out when AGI exceeds:

               MFJ $56,500

Single, MFS, QW $28,250

HOH $42,375