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2020 Retirement Contribution Limits

In 2020 the maximum contribution to 401k and 403b plans will increase to $19,500. Catch up contributions of up to $6,500 are allowed for those who are age 50 and above. For traditional and Roth IRAs, the maximum contribution will increase to $6,000 with catch up contributions of $1,000 allowed. The maximum contribution for SIMPLE IRAs is $13,500 with catch up contributions of $3,000.