2022 401k, IRA and Roth IRA Contribution Limits and Large Income Qualification Threshold Increases Over 2021 Levels – Official IRS Numbers

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
401K Contribution Limit
Maximum Employer Contribution
Max. for ALL Contributions (excl. Catch-up)
Additional Catch-up Amount (age > 50)
2022
$20,500
$40,500
$61,000
$6,500
2021
$19,500
$38,500
$58,000
$6,500
2020
$19,500
$37,500
$57,000
$6,500
2019
$19,000
$37,000
$56,000
$6,000
2018
$18,500
$36,500
$55,000
$6,000

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
IRA Contribution Limit
IRA Contribution - Tax Deduction Qualification Income Phase-out Ranges
2022
$6,000 ($7,000 if > 50 years old)
(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
$6,000 ($7,000 if > 50 years old)
(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
$6,000 ($7,000 if > 50 years old)
(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
$6,000 ($7,000 if > 50 years old)
(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
$5,500 ($6,500 if > 50 years old)
(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

YearRoth IRA Contribution LimitSingle Filer and HoH Income Phase Out RangeMarried, Joint Filer Income Phase Out RangeMarried, 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 

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