INDIVIDUAL RETIREMENT PLANS

TRADITIONAL IRA ROTH IRA ROTH 401(k) SOLO 401(k) SIMPLE IRA SEP IRA CESA

Max Catch-Up (Age 50 and older)

$6,500 $6,500 $23,000 $56,500 $14,500 None None

Distributions Tax-Deferred Tax-Free Tax-Deferred Tax-Deferred Tax-Deferred Tax-Deferred Tax-Free

Contributions Deductible Not Deductible Not Deductible Deductible Deductible Deductible Not Deductible

Account Creation Deadline

4/15/2014 4/15/2014 12/31/2013 12/31/2013 4/15/2014Employers’ tax-filing

deadline **4/15/2014

Contribution Deadline

4/15/2014 4/15/2014 4/15/2014 4/15/2014 4/15/2014 4/15/2014 4/15/2014

2013 IRA Contributions & Deductions Guide

IRAs& Other Accounts

$5,500 $5,500

$17,500

$51,000 $51,000

$2000

$12,000

IF YOU ARE COVERED BY A RETIREMENT PLAN AT WORK

IF YOU ARE NOT COVERED BY A RETIREMENT PLAN AT WORK

Traditional IRA2013 Tax Deduction Limits - Based on Modified Adjusted Gross Income (MAGI)

Roth IRA2013 Contribution Limits - Based on Modified Adjusted Gross Income (MAGI)

Roth 401(k)Total annual contribution (Employee and Employer contributions) cannot exceed the lesser of:

100% OF THE PARTICIPANT’S COMPENSATION OR $51,000 ($56,500 INCLUDING CATCH-UP CONTRIBUTIONS)

Single or Head of Household

Single, Head of Household or Married Filling Separately (and you did not live with your spouse at any time during the year)

Single or Head of Household or Qualifying Widow(er)

Married Filing Jointly or Qualifying Widow(er)

Married Filing Jointly or Qualifying Widow(er)

Married Filing Jointly or Separately (with a spouse who is not covered by a plan at work)

Married Filing Separately

Married Filing Separately (and you lived with your spouse at any time during the year)

Married Filing Jointly (with a spouse who is covered by a plan at work)

Married Filing Separately (with a spouse who is covered by a plan at work)

< $59,000

< $112,000

Any Amount

> $59,000 but < $69,000

> $112,000 but < $127,000

–

> $69,000

> $127,000

–

FULL DEDUCTION

UP TO THE LIMIT

FULL DEDUCTION

PARTIAL DEDUCTION

A REDUCED AMOUNT

PARTIAL DEDUCTION

NO DEDUCTION

NO CONTRIBUTION

NO DEDUCTION

< $95,000

< $178,000

Any Amount

> $95,000 but < $115,000

> $178,000 but < $188,000

–

> $115,000

> $188,000

–

–

–

< $178,000

–

< $10,000

< $10,000

> $178,000 but < $188,000

< $10,000

> $10,000

> $10,000

> $188,000

> $10,000

SMALL BUSINESS RETIREMENT PLANSSimple IRA

Employer must contribute a matching contribution up to

3% or a 2% nonelective contribution

of employee’s salary

Employees may contribute through salary deduction

Employer contributes only

25% of employee’s salary up to $51,000

maximum employer contribution limit

Maximum considered compensation of $255,000

Employees may contribute through salary deduction

Employee can contribute up to

$17,500 or $23,000 (if 50 or older)

Employer can contribute up to

$33,500

SEP IRA Solo 401(k)

OTHER PLANSCESA2013 Contribution Limits - Based on Modified Adjusted Gross Income (MAGI)

Single, Head of Household or Married Filling jointly

Married Filing Jointly

< $95,000 > $95,000 but < $110,000 > $110,000

UP TO THE LIMIT A REDUCED AMOUNT NO CONTRIBUTION

< $190,000 > $190,000 but < $220,000 > $220,000

MaxContribution

Limit Standard

* Maximum contribution for both Traditional and Roth IRAs combined.

** 2013 account must be established by thew employers tax filing deadline for the tax year contributions.

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