The IRS has released the latest 401(k), IRA and Roth limits for 2022, including income qualification and phase-out thresholds. See the tables below for limits and changes over the last few years.
Main changes include:
- 401(k), 403(b), TSP and most 457 plans pre-tax contribution limits have increased to $20,500, up from $19,500 in 2021. This was widely expected given elevated inflation levels.
- Earned income and phase-out ranges for determining eligibility to make tax deductible contributions all increased for 2022. The increases were the largest seen in recent times.
- No change in contribution limits for those over 50
401(k) Limits
| Year | ||||
|---|---|---|---|---|
| 2022 | ||||
| 2021 | ||||
| 2020 | ||||
| 2019 | ||||
| 2018 |
See more on 401K changes in 2022
IRA Limits
Tax deductible IRA contributions are based on qualifying income ranges and spousal participation in employer sponsored (e.g. 401K plans). You and make the maximum $6,000 contribution ($7,000 if over 50) in 2022 if you make above the maximum income ranges, but you won’t get a tax deduction. However for higher income earners this is still worth doing as all gains are tax-free.
| Year | ||
|---|---|---|
| 2022 | (Single and have Employer Plan) - $68,000 to $78,000 (Married and have Employer Plan) - $109,000 to $129,000 (Married Filing Separately and have Employer Plan) - $0 to $10,000 (Married and Spouse has Employer Plan) - $204,000 to $214,000 |
|
| 2021 | (Single and have Employer Plan) - $66,000 to $76,000 (Married and have Employer Plan) - $105,000 to $125,000 (Married Filing Separately and have Employer Plan) - $0 to $10,000 (Married and Spouse has Employer Plan) - $198,000 to $208,000 |
|
| 2020 | (Single and have Employer Plan) - $65,000 to $75,000 (Married and have Employer Plan) - $104,000 to $124,000 (Married Filing Separately and have Employer Plan) - $0 to $10,000 (Married and Spouse has Employer Plan) - $196,000 to $206,000 |
|
| 2019 | (Single and have Employer Plan) - $64,000 to $74,000 (Married and have Employer Plan) - $103,000 to $123,000 (Married Filing Separately and have Employer Plan) - $0 to $10,000 (Married and Spouse has Employer Plan) - $193,000 to $203,000 |
|
| 2018 | (Single and have Employer Plan) - $63,000 to $73,000 (Married and have Employer Plan) - $101,000 to $121,000 (Married Filing Separately and have Employer Plan) - $0 to $10,000 (Married and Spouse has Employer Plan) - $189,000 to $199,000 |
See more on IRA rules and changes in 2022
Roth IRA limits
Roth IRA contributions are only allowed for those below the maximum phase-out income range limits shown in the table below. The maximum contribution ($6000) is allowed for those below the lower end of the phase-out income range limits. See more on Roth IRA changes in 2022
Year Roth IRA Contribution Limit Single Filer and HoH Income Phase Out Range Married, Joint Filer Income Phase Out Range Married, Filing Separate Income Phase Out Range
2022 $6,000 ($7,000 if 50 or older) $129,000–$144,000 $204,000–$214,000 $0–$10,000
2021 $6,000 ($7,000 if 50 or older) $125,000–$140,000 $198,000–$208,000 $0–$10,000
2020 $6,000 ($7,000 if 50 or older) $124,000–$139,000 $196,000–$206,000 $0–$10,000
2019 $6,000 ($7,000 if 50 or older) $122,000–$137,000 $193,000–$203,000 $0–$10,000
2018 $5,500 ($6,500 if 50 or older) $120,000–$135,000 $189,000–$199,000 $0–$10,000
See more details and eligibility rules in our Retirement accounts resource page.
Source: IRS Notice 2021-61