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2012: New contribution limits for retirement accounts

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Find out the IRS limits for 2012

The IRS has announced new contribution limits for retirement savings accounts, including increased contribution limits for 401(k), 403(b), and most 457 plans as well as higher income limits for IRA contribution deductibility. The new limits give you even more opportunity to save for retirement.

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401k, 403(b), and most 457 plans

2011
2012
Age 49 and under
$16,500
$17,000
Age 50 and older
Additional $5,500
Additional $5,500

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Roth and Traditional IRA contribution limits

2011
2012
Age 49 and under
100% of compensation, up to $5,000
100% of compensation, up to $5,000
Age 50 and older
Additional $1,000
Additional $1,000

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Traditional IRA modified adjusted gross income limit for partial deductibility

2011
2012
Single
$56,000-$66,000
$58,000-$68,000
Married—Filing joint returns
$90,000-$110,000
$92,000-$112,000
Married—Filing separately
$0-$10,000
$0-$10,000
Non-active participant spouse
$169,000-$179,000
$173,000-$183,000

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Roth IRA modified adjusted gross income phase-out ranges*

2011
2012
Single
$107,000-$122,000
$110,000 - $125,000
Married—Filing joint returns
$169,000-$179,000
$173,000 - $183,000
Married—Filing separately
$0-$10,000
$0-$10,000
* Beginning in 2010, there is no income limit for taxpayers who wish to convert a traditional IRA to a Roth IRA.
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