why limits on roth ira
IRA Contribution Limits. For the 2015 fiscal year, IRA participants are limited to a maximum contribution of $5,500, or 100% of their compensation, whichever is lesser. Those over 50 can make catch-up contributions of up to $1,000 annually.Like 401(k) plans, the contribution limits for IRAs apply to all accounts held by the same person.If you have both a traditional IRA and a Roth IRA, the total of all your contributions to both accounts cannot exceed $5,500, or $6,500 if you are over 50.n 2015, the contribution limits for single persons who earn more than $116,000, and married couples filing jointly who earn more than $183,000, are reduced. Individuals who earn more than $131,000 and couples who earn more than $193,000 are not eligible to contribute to Roth IRAs.