If you are referring to a contribution to a 401k, there are compensation and contribution limits salary deferrals - $19,500 in 2020 and 2021 ($19,000 in 2019), plus $6,500 in 2020 and 2021 ($6,000 in 2015 - 2019) if the employee is age 50 or older annual compensation - $290,000 in 2021, $285,000 in 2020, $280,000 in 2019 For IRA contribution, there are no income limits for traditional IRA. However, for Roth IRA, you are limited to contribution if you make too much money. For more information, click here: 401 contribution limit IRA contribution limit If you are referring something else, please write back with clarification.

Question

How do i know if im qualified for any additional contributions to qualified retirement accounts?

Forum|Forum|5 years ago
January 27, 2021
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linaj20201

If you are referring to a contribution to a 401k, there are compensation and contribution limits

salary deferrals - $19,500 in 2020 and 2021 ($19,000 in 2019), plus $6,500 in 2020 and 2021 ($6,000 in 2015 - 2019) if the employee is age 50 or older
annual compensation - $290,000 in 2021, $285,000 in 2020, $280,000 in 2019

For IRA contribution, there are no income limits for traditional IRA. However, for Roth IRA, you are limited to contribution if you make too much money. For more information, click here:

401 contribution limit

IRA contribution limit

If you are referring something else, please write back with clarification.