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Annual Limits for Retirement Plans – 2012

IRA Contribution Limits
Traditional and Roth $5,000 plus $1,000 catch up provision if over age 50 during 2012

Traditional IRA income (MAGI) limits (for deductibility phase-out):
MFJ – $92,000 to $112,000
Single or HoH – $58,000 to $68,000
MFS – $0 to $10,000
Spouse not active participant in an employer-sponsored retirement plan (MFJ, Single or HoH): $173,000 to $183,000

Roth IRA income (MAGI) limits (for contribution phaseout):
MFJ – $173,000 to $183,000
Single or HoH – $110,000 to $125,000
MFS – $0 to $10,000

Simple IRA Deferral Limit:
$11,500, plus $2,500 catchup provision if over age 50 in 2012

401(k)/403(b)/457 Plans Deferral Limit:
$17,000 plus $5,500 catchup provision if over age 50 in 2012


  1. […] over-contribution in the account.  Over-contribution can also occur if your income is above the annual limits for your particular […]

  2. mark says:

    i’m sure i am to late,but thought i would try running my situation by someone who appears to be in the know. i’m now 59 but at age 49(i have had bad epilpsy) started drawing on my credits (way to early)but had to be watch 7-24 so my wife not able to go to work needs’s to take care of me.. and we have spent all equity from sale of our house,all depleted but ira money. got ssb at age 49 so i’ve been milking my credits dry up.. ANY HELLP???

    1. jblankenship says:

      Hi Mark –

      Unfortunately I don’t have any suggestions for you, as it seems you’ve exhausted all of your available resources. Since your situation is the result of disability you should be able to access your IRA funds without penalty – and since you’re already age 59 you should have access to them anyway (at 59 1/2) without penalty.

      Sorry I couldn’t be of more help –


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