Financial Calculators

	2024	2023
Employee Contribution, Age 49 and under	$23,000	$22,500
Employee Contribution, Age 50 and older	$30,500 (Additional $7,500)	$30,000 (Additional $7,500)
Contribution maximum limit, all sources, Age 49 and under	$69,000	$66,000
Contribution maximum limit, all sources, Age 50 and older	$76,500 (Additional $7,500)	$73,500 (Additional $7,500)
Employee compensation limit for calculating contributions	$345,000	$330,000
Compensation of "key employees" in a top-heavy plan	$220,000	$215,000
Compensation of "highly compensated employees" in a top-heavy plan (HCE threshold)	$155,000	$150,000

Roth and Traditional IRA contribution limits

	2024	2023
Age 49 and under	Up to $7,000 (must have employment compensation)	Up to $6,500 (must have employment compensation)
Age 50 and older	$8,000 (Additional $1,000)	$7,500 (Additional $1,000)

Roth IRA modified adjusted gross income phase-out ranges*

	2024	2023
Single	$146,000 - $161,000	$138,000 - $153,000
Married—Filing joint returns	$230,000 - $240,000	$218,000 - $228,000
* As of 2010, there is no income limit for taxpayers who wish to convert a traditional IRA to a Roth IRA.

Traditional IRA modified adjusted gross income limit for partial deductibility

	2024	2023
Single covered by a workplace retirement plan	$77,000 - $87,000	$73,000 - $83,000
Married—Filing joint returns, who making the IRA contribution and is covered by a workplace retirement plan	$123,000 - $143,000	$116,000 - $136,000
Married—Filing joint returns, , who making the IRA contribution and is NOT covered by a workplace retirement plan	$230,000 - $240,000	$218,000 - $228,000

The income limit for the Saver's Credit (also known as the Retirement Savings Contributions Credit) for low- and moderate-income workers

	2024	2023
Single	$38,250	$36,750
Head of Household	$57,375	$54,750
Married—Filing joint returns	$76,500	$73,000