Maximum Contributions – Maximum Benefits
IRA/HSA CONTRIBUTION LIMITS
The tax benefits of these accounts make increased contributions a smart idea. Here are the maximum amounts you can contribute.
| Traditional IRA/Roth IRA Contribution Limits* | 2023 | 2024 |
|---|---|---|
| Up to age 50 | $6,500 | $7,000 |
| Catch Up Contributions Provision Age 50+ | $1,000 | $1,000 |
| Traditional IRA Deductibility Modified Adjusted Gross Income Limit Phase-Out Ranges*† | 2023 | 2024 |
|---|---|---|
| Single or Head of Household - Active Participant | $73,000 - $83,000 | $77,000 - $87,000 |
| Married Active Participant Filing Joint | $116,000 - $136,000 | $123,000 - $143,000 |
| Married Active Participant Filing Separate | Less than $10,000 | Less than $10,000 |
| Roth IRA Contribution Limits Modified Adjusted Gross Income Phase-Out Ranges* | 2023 | 2024 |
|---|---|---|
| Single or Head of Household | $138,000 - $153,000 | $146,000 - $161,000 |
| Married Filing Joint Tax Return | $218,000 - $228,000 | $230,000 - $240,000 |
| Married Filing Separate Tax Return | Less than $10,000 | Less than $10,000 |
| Individual Elective Deferral Contribution Limits 401 (k), 403 (b) & Profit-Sharing Plans* | 2023 | 2024 |
|---|---|---|
| Up to age 50 | $22,500 | $23,000 |
| Catch Up Contributions Provision Age 50+ | $7,500 | $7,500 |
| Defined Contribution Limits | $66,000 | $69,000 |
| SEP IRA Contribution Limits* | 2023 | 2024 |
|---|---|---|
| SEP IRA Contribution Limits | $66,000 | $69,000 |
| Health Savings Account* | 2023 | 2024 |
|---|---|---|
| Single | $3,850 | $4,150 |
| Family | $7,750 | $8,300 |
| Catch Up Contributions Provision Age 55+ | $1,000 | $1,000 |
| IRS COLA Adjustments* |
|---|
| Select to view COLA Increases for Dollar Limitations on Benefits and Contributions |
| Roth MAGI Limits* |
|---|
| Select to view Amount of Roth IRA Contributions That You Can Make for 2022 |
| Select to view Amount of Roth IRA Contributions That You Can Make for 2023 |
| IRA Deductibility* |
|---|
| Select to view IRA Contribution Limits |
*For specific tax advice or, to determine qualifications, eligibility, and/or contribution limits, etc., please consult a tax professional and/or the IRS.
†If you are covered by a retirement plan at work.
Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. NASA Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
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