Maxing Out Your Retirement Contributions

March 05, 2016

How much can you contribute to a retirement account for 2015? What is the contribution deadline? Below you’ll find a summary of contribution limits and deadlines for the 2015 tax year.

As you consider making contributions, we recommend that you touch base with your tax professional. This guide is meant to be a starting point, and there may be additional considerations that apply to your situation.

Type of Account

2015 Contribution Limit

2015 Contribution Limit (over age 50)

2015 Contribution Deadline

401(k) / 403(b) / 457



Deferred from last paycheck or 12/31/2015

Traditional IRA



April 18, 2016

Roth IRA



April 18, 2016




Tax-filing deadline, including extensions.




Tax-filing deadline, including extensions.


Traditional and Roth IRA Contributions

  • Your cumulative contribution to both Traditional and Roth IRAs cannot exceed $5,500 for under 50 or $6,500 for over 50.
  • You must have earned income to contribute to either of these IRAs.
  • You may be able to contribute to a Traditional or Roth IRA even if you contribute to another plan through an employer.
  • You cannot contribute to a Traditional IRA if you reach 70 1/2 or older.

Income limits may apply

SIMPLE AND SEP IRA Contributions

  • These retirement plans are generally set up by self-employed individuals.
  • Consult your tax advisor for detailed information.

Content in this material is for general information only. Tax laws and provisions are subject to change.

*For SEP IRAs, the contribution limit is the lesser of 25% of compensation or $53,000