The income ceiling for Roth IRAs went up. Catch-up contributions also increased to $6,500 for 401(k)/403(b) plans and $3,000 for SIMPLE IRAs, with Traditional and Roth IRA catch-up contributions staying at $1,000. There is no longer an age limit for contributions to a Traditional IRA.Īnnual contribution limits have increased in 2021 to $19,500 for 401(k)/403(b) plans and $13,500 for SIMPLE IRAs Traditional and Roth IRA limits remain at $6,000.
The age for RMDs was raised to 72 from 70-½, although if you turned 70-½ in 2019, you still need to start RMDs in 2020.
