Home>Financial Articles and Q&A>Articles>IRA and Retirement Plan Limits for 2013

IRA and Retirement Plan Limits for 2013


Many IRA and retirement plan limits are indexed for inflation each year. On October 18, 2012, the IRS issued the inflation-adjusted numbers for 2013, and many of the limits have increased.

For example, the elective deferral limit for 401(k), 403(b), and 457(b) plans rises to $17,500 in 2013, up from $17,000 in 2012 (the catch-up limit remains unchanged at $5,500). The maximum IRA contribution increases to $5,500 in 2013, up from $5,000 in 2012 (the catch-up limit remains unchanged at $1,000). The phaseout ranges for determining the deductibility of traditional IRA contributions, and for determining whether an individual can contribute to a Roth IRA, have also increased for 2013.

Upvote (27)
Comment   |  5 years, 2 months ago from Denver, CO