The Internal Revenue Service has announced the following retirement contribution plan limits for the 2014 tax year.

IRA Contributions

Roth:  $5,500
Traditional: $5,500
Over 49 Catch-Up: $1,000

Traditional Phase Outs

Single (covered by employer plan)  $60 – 70k
Married (contributor covered) $96 – 116k
Married (spouse covered) $181 – 191k

Roth Phase Outs

Single $114 – 129k
Married $181 – 191k

401(k) Contributions

$17,500
Over 49 Catch-Up: $5,500

SEP IRA Contributions

25% of compensation up to $52,000
20% of net self-employment income

SIMPLE IRA Contributions

Salary deferral up to $12,000
Over 49 Catch-Up: $2,500