Retirement Contribution Limits for 2017

Here are the 2017 retirement contribution limits for teachers. 

The following limits are:

–  $18,000 to a 403(b), 457 or the federal government’s Thrift Savings Plan.  In addition, you can add as much as $6,000 more in catch-up contributions if you’re 50 or older in 2017.

– $5,500 is the annual contribution limit for traditional and Roth IRAs.  If you are 50 or older in 2014 you can add an additional $1,000.
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Additionally, the income limits determining who can contribute to Roth IRAs are increasing very slightly.

–  $133,000 if single 

–  $196,000 if married filing jointly

You can contribute to a Roth IRA in 2017 only if your adjusted gross income is less than what’s listed above.  The amount that you can contribute starts to decline — or phase out — for singles earning more than $118,000 and couples earning more than $186,000.