2016 Retirement Account and HSA Figures

This page lists retirement contribution limits and related numbers for 2016, with 2015 figures for comparison. See bottom of page for links to other categories of numbers, including tax rate schedules and general figures such as personal exemptions and standard deductions.

IRA contributions

2015 2016
IRA contribution limit
Under age 50 5,500 5,500
50 or older 6,500 6,500
Deduction phaseout begins (employer plan participants)
married filing jointly 98,000 98,000
single or head of household 61,000 61,000
Roth IRA contribution phaseout begins
married filing jointly 183,000 184,000
others 116,000 117,000

Employer plans

2015 2016
Elective deferrals (401k, 403b)
under age 50 18,000 18,000
50 or older 24,000 24,000
SIMPLE accounts
limitation 12,500 12,500

Retirement savings contribution credit

2015 2016
Married filing jointly
50% up to 36,500 37,000
20% up to 39,500 40,000
10% up to 61,000 61,500
Head of household
50% up to 27,375 27,750
20% up to 29,625 30,000
10% up to 45,750 46,125
Other taxpayers
50% up to 18,250 18,500
20% up to 19,750 20,000
10% up to 30,500 30,750

Social Security

2015 2016
Wage base
Announced by SSA 118,500 118,500

Health savings account (HSA)

2015 2016
Annual limitation on deductions
self-only coverage 3,350 3,350
family coverage 6,650 6,750
Minimum annual deductible
self-only coverage 1,300 1,300
family coverage 2,600 2,600
Maximum out-of-pocket expenses
self-only coverage 6,450 6,550
family coverage 12,900 13,100

Related

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