The IRS limits the dollar amount that may be contributed to a retirement account each year. The limits are expressed in terms of dollars amounts, not percentage of wages. Individuals over the age of 50 may contribute a greater amount than those under the age of 50. This is known as the catch-up contribution. The annual contribution and catch-up limits are published by the IRS each year and can be found on our website at: https://www.rpgconsultants.com/news/annual-plan-limits-chart/
How much can I contribute each year? Print
Modified on: Thu, 4 Jun, 2020 at 1:36 AM
Did you find it helpful?Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.