The IRS recently released updated contribution limits for 2027. Knowing the limits for different types of accounts can help you maximize your retirement savings.
Here are the new 2027 limits so you can stay on top of your contributions:
401(k) and 403(b) Deferral Limit: Increases to $25,500 from $24,500. The additional catch-up if you are age 50 or older is $8,500, for a total of $34,000. If you are age 60–63, a higher catch-up of $11,750 applies, for a total of $37,250 - see more on this on our blog here.
IRA Limit (including Roth IRAs): Stays the same at $7,500 in 2027. The catch-up for those age 50 or older is still an additional $1,100, for a total of $8,600.
SEP IRAs: The limit in 2027 is $75,000, with a cap of 25% of your net earnings. See your accountant or tax professional for more details.
The 2027 Roth IRA income phase-out range for single filers and heads of household will be between $158,000 and $173,000. The 2027 Roth IRA income phase-out range for married couples filing jointly will be between $250,000 and $260,000.
With some careful planning, you can make sure you maximize every dollar you’re bringing home. As always, check with your tax professional about your specific situation.
This information is believed to be accurate at the time of publication. Please refer to the IRS website for official information and refer to your tax professional for individual matters.
