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The most popular Pension plans for small business owners are 401(k) plans, simple 401(k) plans and simple IRA plans.
All pension contributions are based on earned income (income subject to social security and medicare taxes).
Contribution Limits for 2025
| Payroll Deduction | Catch-Up | Company | |
| 401(k), 403(b), 457 | $23,500 |
$7,500* |
25% of salary |
| Simple 401(k) | $16,500 |
$3,500** |
3% match 2% for all |
| Simple IRA | $16,500 | $3,500** | 3% match 2% for all |
*For Employees aged 60-63 there is a higher catch up limit of $11,250
**For Employees aged 60-63 there is a higher catch up limit of $5,250
Contributions are allowed past age 70.5 for Roth IRA
| Regular | Catch-Up | |
| Roth IRA | $7,000 | $1,000 |
| Roth Phase-Out Ranges | ||
| Single | $150,000 | $165,000 |
| Married | $236,000 | $246,000 |
Contributions NOT allowed past age 70.5 for IRA
| Regular | Catch-Up | |
| IRA | $7,000 | $1,000 |
| Filing Status | Full Deduction | Phase-Out | No Deduction |
| Traditional IRA if covered by a Plan at Work | |||
| Single, Head of Household | $79,000 or less | $79,000-$89,000 | $89,000 or more |
| Married Filing Jointly | $126,000 or less | $126,000-$146,000 | $146,000 or more |
| Married Filing Seperately | less than $10,000 | $10,000 or more | |
| Traditional IRA if Not covered by Plan at Work | |||
| Single, Head of Household | No Limit | No Limit | No Limit |
| Married Filing Jointly (Spouse not Covered) | No Limit | No Limit | No Limit |
| Married Filing Jointly (Spouse Covered) | $236,000 or less | $236,000-$246,000 | $246,000 or more |
| Married Filing Seperately (Spouse Covered) | less than $10,000 | $10,000 or more | |
Contribution Limits for 2026
| Payroll Deduction | Catch-Up | Company | |
| 401(k), 403(b), 457 | $23,500 |
$8,000* |
25% of salary |
| Simple 401(k) | $16,500 |
$4,000** |
3% match 2% for all |
| Simple IRA | $16,500 | $4,000** | 3% match 2% for all |
*For Employees aged 60-63 there is a higher catch up limit of $11,250
**For Employees aged 60-63 there is a higher catch up limit of $5,250
Contributions are allowed past age 70.5 for Roth IRA
| Regular | Catch-Up | |
| Roth IRA | $7,500 | $1,100 |
| Roth Phase-Out Ranges | ||
| Single | $153,000 | $168,000 |
| Married | $242,000 | $252,000 |
Contributions NOT allowed past age 70.5 for IRA
| Regular | Catch-Up | |
| IRA | $7,500 | $1,100 |
| Filing Status | Full Deduction | Phase-Out | No Deduction |
| Traditional IRA if covered by a Plan at Work | |||
| Single, Head of Household | $81,000 or less | $81,000-$91,000 | $91,000 or more |
| Married Filing Jointly | $129,000 or less | $129,000-$149,000 | $149,000 or more |
| Married Filing Seperately | less than $10,000 | $10,000 or more | |
| Traditional IRA if Not covered by Plan at Work | |||
| Single, Head of Household | No Limit | No Limit | No Limit |
| Married Filing Jointly (Spouse not Covered) | No Limit | No Limit | No Limit |
| Married Filing Jointly (Spouse Covered) | $242,000 or less | $242,000-$252,000 | $252,000 or more |
| Married Filing Seperately (Spouse Covered) | less than $10,000 | $10,000 or more | |
Maximize Your Retirement Savings with Strategic Pension Plan Contributions
Tax Advantages
Compound Growth
Employer Contributions
Maximize your retirement fund with potential matching contributions from your employer.
Financial Security
Diversified Investment Options
Automatic Savings
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We’d Love to Help You With Pension Plan Contributions
Company Information
(727) 466-9575
info@tampabaytax.com
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St. Petersburg, FL
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