Retirement Plan Contribution Limits

For tax years beginnings after 2004, these statutory increases in retirement plan contribution limits apply under EGTRRA phase-in rules:

• IRA, from $3,000 to $4,000;
• 401(k), 403(b), salary reduction SEPs, and Sec. 457, from $13,000 to $14,000;
• Catchup 401(k), 401(b), salary reduction SEPs, and Sec. 457, from $3,000 to $4,000;
• SIMPLE plan, from $9,000 to $10,000; and
• SIMPLE catchup, from $1,500 to $2,000.