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Accumulation and distribution of individual retirement arrangements, 2004.

For 2004, individual income taxpayers contributed approximately $48.7 billion to Individual Retirement Arrangements (IRAs). In addition, $214.9 billion were reported as rollovers into IRAs for 2004, usually from employer-sponsored plans (such as 401(k) plans). (1) At year-end, approximately 50.9 million taxpayers held $3.3 trillion in IRAs based on the fair market value.

Almost 90 percent of the year-end fair market value, 89.6 percent, ($3.0 trillion), was invested in traditional IRA plans (Figure A and Table 1). Simplified Employee Pension (SEP) plans accounted for 5.1 percent ($169 billion), Roth IRA plans accounted for 4.2 percent ($140 billion), and Savings Incentive Match Plans for Employees (SIMPLE) plans accounted for 1.0 percent ($34 billion). Even though traditional IRAs accounted for most of the year-end fair market value, Roth IRA contributions accounted for almost one-third of contributions for the year, 30.2 percent ($14.7 billion). SEP plans accounted for 28.2 percent ($13.8 billion) of contributions, traditional IRA plans accounted for 25.9 percent ($12.6 billion), and SIMPLE plans accounted for 15.6 percent ($7.6 billion).

For Tax Year 2004, while $48.7 billion were contributed by 14.7 million taxpayers, 12.3 million taxpayers withdrew $140 billion, of which $133 billion were from traditional IRA plans, $4.5 billion were from SEP plans, $1.9 billion were from Roth plans, and $0.2 billion were from SIMPLE plans.

Types of Plans

Traditional IRAs

IRAs were created by the Employee Retirement Income Security Act (ERISA) of 1974. These first retirement accounts, termed traditional IRAs, remained the principal type of retirement account held by taxpayers in 2004. In general, contributions to traditional IRAs could be made by individuals who received taxable compensation (e.g., wages, salaries, commissions, and self-employment income). For 2004, the maximum contribution amount to a traditional IRA was the smaller of $3,000 or the individual's taxable compensation. For taxpayers age 50 and older, an additional $500 "catch-up" contribution was allowed. Both contribution limits were legislated by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Additional restrictions based on age, coverage by a retirement plan at work, income, and filing status limited the amount that could be contributed in any particular tax year and whether the contribution could be deducted from income. In general, taxpayers less than 70 1/2 years of age who were not covered by a retirement plan at work could make a traditional IRA contribution that was deductible from his or her income otherwise subject to income tax. However, this deduction would be limited based on income level, filing status, and if the taxpayer's spouse was covered by an employer-sponsored retirement plan. For example, for 2004, a married taxpayer filing jointly had his or her deduction limited when modified adjusted gross income levels were $160,000 or more and the other spouse had employer coverage. (2) Before 59 1/2 years of age, most withdrawals from traditional IRAs were subject to a 10percent additional tax. In general, distributions from the plan were required to begin by April 1 of the year following the year in which the taxpayer reached age 70 1/2 and were taxed as ordinary income.

Of the 5.3 million taxpayers in 2004 who contributed to a traditional IRA, 3.1 million taxpayers were age 50 or older. Of these 3.1 million taxpayers, 1.6 million taxpayers took advantage of some or all of the catch-up contribution allowance (Table 6), and 96 percent of them took advantage of the entire catch-up contribution allowance and contributed the $3,500 maximum.

Simplified employee Pension IRAs

Employer-sponsored Simplified Employee Pension IRAs (SEP-IRAs), introduced in the Revenue Act of 1978, allow employers to make contributions for their employees' retirements. Self-employed individuals could also use a SEP-IRA to contribute to their own retirements. For 2004, an employer could contribute up to 20 percent of the first $205,000 of an employee's compensation, or $41,000. The statistics presented in this article include the contributions made by the employers on behalf of the employees and contributions made by self-employed individuals. In 2004, 1.6 million taxpayers contributed $13.8 billion to SEP-IRAs, which was second only to contributions made to Roth IRAs. At year-end, 3.5 million taxpayers held $169 billion in SEPIRA accounts.

SIMPLE IRAs

Savings Incentive Match Plans for Employees (SIMPLE) IRAs, introduced in the Small Business Job Protection Act of 1996, also provide a mechanism for employers (including self-employed individuals) to provide a tax-favored retirement plan for their employees. In addition to employee-determined "salary reduction contributions," employers must make either matching contributions or nonelective contributions. For 2004, employee "salary reduction contributions" to a SIMPLE plan were limited to $9,000, with a "catch-up" contribution allowance for those 50 and over of an additional $1,500. Employer-matching contributions could not be more than 3 percent of an employee's compensation for the year, while nonelective contributions were limited to 2 percent of an employee's compensation for the year. Only $205,000 of an employee's compensation could be used to determine the nonelective contribution limit. The statistics reported in this article include the amounts contributed as employee-determined "salary reduction contributions" and the employer's matching or nonelective contributions.

For 2004, 1.9 million taxpayers contributed to a SIMPLE IRA, 364,000 more individuals than for SEP-IRAs, but their contributions represented only 13 percent of all IRA contributions.

Roth IRAs

Roth IRAs, introduced in the Taxpayer Relief Act of 1997, differ from traditional IRAs in several substantive ways. Contributions to Roth IRAs are never tax-deductible. However, qualified distributions from these plans are tax-free, and taxpayers are not required to take qualified distributions from these plans regardless of age. Similar to other IRAs, investment returns in the plan are not taxed each year. Contributions can be made regardless of age. However, no Roth IRA contributions were allowed for married taxpayers filing jointly who had modified adjusted gross incomes over $160,000, or over $10,000 for those filing separately. No Roth IRA contributions were allowed for unmarried taxpayers with modified adjusted gross incomes over $110,000. These amounts have not changed since their introduction in 1998.

Like the traditional IRA, the maximum contribution amount was $3,000 for taxpayers under age 50 and $3,500 for those age 50 or older. Of the 6.7 million taxpayers in 2004 who contributed to a Roth IRA, 2.3 million taxpayers were age 50 or older. Of these 2.3 million taxpayers, 1.2 million taxpayers took advantage of the increased limit, and 94 percent of those taxpayers contributed the $3,500 maximum (Table 7).

Trends in Contributions

Contributions by Size of Income

For 2004, approximately 145 million taxpayers, 79 percent of the total 184.1 million taxpayers, were eligible to make IRA contributions (Table 2), but only 14.7 million taxpayers did so (Figure B and Table 2). (3) Participation rates and average contributions increased with the size of adjusted gross income. (4) Participation rates and average contributions were also high in the "No Adjusted Gross Income" category, which contains many well-to-do individuals who experienced temporary losses in the given tax year.

Contributions by Age of Contributor

Consistent with prior years, for 2004, the average contribution rose with the age of the taxpayer for all age groups (Figure C and Table 4). The average contribution was $1,875 for taxpayers under age 30 and $3,843 for taxpayers in the 50 under 60 age group. The average increased for the 70-and-over age group to $4,900, but the group represented only 160,000 taxpayers or 5 percent of all IRA contributors.

Contributions by Gender and Filing Status

On average, married individuals filing joint returns contribute larger amounts to their IRA accounts and maintain a larger yearend fair market value than do individuals filing nonjoint returns (Figure D and Table 5). Regardless of marital status, men tended to contribute more than women.

Summary

Approximately 50.9 million taxpayers held $3.3 trillion in individual retirement arrangements based on the yearend 2004 fair market value of their plans. For Tax Year 2004, more than 14.7 million taxpayers made contributions of $48.8 billion. However, only 5.5 million taxpayers were able to deduct their contributions on their individual income tax returns; 41 percent ($20.2 billion) of the $48.7 billion in contributions was deductible. More than 3.6 million taxpayers rolled over $214.9 billion into IRA plans. For 2004, taxpayers also converted $2.8 billion from traditional IRAs to Roth IRAs. Approximately 12.3 million taxpayers withdrew $140 billion from their plans.

Explanation of Selected Terms

Modified Adjusted Gross Income--Adjusted Gross Income figured without taking into account any IRA deduction or foreign-earned income exclusion or foreign housing exclusion (deduction), any deduction for student loan interest, any qualified bond interest exclusion, and exclusions for certain tax-exempt interest amounts.

Eligible taxpayer--Those who qualified under Federal income tax law to make deductible or nondeductible contributions to a traditional and/or Roth IRA plan. In other words, they include all taxpayers under age 70 1/2 with earned income for traditional IRAs, as well as older taxpayers with earned income and modified adjusted gross income under the legally specified limits for Roth IRAs.

Fair Market Value (FMV)--On Form 5498, the trustee holding an IRA account reports to the owner and to the IRS the value of that account as of year's end (i.e., December 31).

Rollovers--Rollovers are amounts transferred from one account to another. In most cases, the amounts identified as "rollovers" on Form 5498 represent withdrawals from employer-sponsored plans that are then invested from one traditional IRA plan to another--but only if the taxpayer makes the withdrawal on his or her own and deposits the amount into another IRA account within 60 days. Trustee-to-trustee transfers are not generally considered rollovers; however, if a taxpayer made a contribution to one IRA during 2004, and later in the year decided to "recharacterize" it as a contribution to another IRA, the amount recharacterized is also shown as a rollover.

Data Sources and limitations

The data presented in this article are based on information collected from matched samples of Forms 1040, U.S. Individual Income Tax Return; Forms 5498, IRA Contribution Information; and Forms 1099-R, Distributions from Pensions Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. for Tax Year 2004. Data from individual income tax returns (Form 1040) are based on a stratified weighted sample.(5) For a general description of the sampling procedures and data limitations of Statistics of Income tabulations, see Statistics of Income, Individual Income Tax Returns, 2004.

In addition to the limitations of the Form 1040 sample described in the above-referenced report, special limitations apply to the Form 5498 data. As is true for Form 1040, these data are before audit. In the case of contributions to IRA plans, this means that some Forms 5498 show amounts in excess of the maximum allowable contributions. Based on research conducted on previous years' files, formulas were developed to either disallow the excess amounts or move them into the "rollover" category.

Distributions shown on Forms 1099-R were considered IRA distributions if either the "IRA/SEP/ SIMP" box was checked, or if one of the category boxes contained a code indicating Roth or early SIMPLE IRA distributions. If all that was checked was the "IRA/SEP/SIMP" box, an allocation had to be made to Traditional, SEP, or SIMP IRA distributions in order to classify the taxpayer in Tables 1 and 6. If the taxpayer's Form 5498 indicated a fair market value in one of those plans, it was chosen as the source of the distribution. All remaining amounts were classified as traditional IRA distributions.

References

Sailer, Peter J. and Victoria Bryant, "Accumulation and Distribution of Individual Retirement Arrangements, 2001-2002," SOI Bulletin, Spring 2006, Volume 25, Number 4, pp. 233-254.

Sailer, Peter J. and Sarah E. Nutter, "Accumulation and Distribution of Individual Retirement Arrangements, 2000," SOI Bulletin, Spring 2004, Volume 23, Number 4, pp. 121-134.

Publication 590, Individual Retirement Arrangements (IRAs), Internal Revenue Service, Department of Treasury, for more information on eligibility requirements and limitations.

(1) See Explanation of Selected Terms.

(2) See Explanation of Selected Terms.

(3) See Explanation of Selected Terms.

(4) Taxpayers are grouped according to the adjusted gross income reported on the tax return. Thus, a married-filing-jointly return with $200,000 in adjusted gross income results in two taxpayers reported in the "$200,000 under $500,000" category.

(5) For more information on matching and sampling procedures, see Sailer, Peter J.; Michael E. Weber; and Kurt S. Gurka (2002), "Are Taxpayers Increasing the Buildup of Retirement Assets? Preliminary Results from a Matched File of Tax Year 1999 Tax Returns and Information Returns," National Tax Association Proceedings, Ninety-fifth Annual Conference, pp. 364-369.

Victoria L. Bryant is an economist with the Individual Special Projects Section. This article was prepared under the direction of Michael Weber, Chief.
Table 1. Taxpayers with Individual Retirement Arrangement (IRA)
Plans, by Type of Plan, Tax Year 2004

[All figures are estimates based n thousands of dollars] on
samples--money amounts are in thousands of dollars]

 Total contributions [1]
Type of plan
 Number Amount
 (1) (2)

Total 14,706,060 48,728,654
 Traditional IRA plans 5,305,442 12,632,543
 SEP plans 1,571,637 13,757,176
 SIMPLE plans 1,935,896 7,621,057
 Roth IRA plans 6,657,635 14,717,878

 Contributions deducted on Form 1040
Type of plan
 Number Amount
 (3) (4)

Total 5,587,535 20,245,616
 Traditional IRA plans 4,011,681 10,028,607
 SEP plans 920,770 7,923,068
 SIMPLE plans 733,163 2,293,941
 Roth IRA plans n.a. n.a.

 Rollovers
Type of plan
 Number Amount
 (5) (6)

Total 3,636,027 214,878,446
 Traditional IRA plans 3,636,027 214,878,446
 SEP plans n.a. n.a.
 SIMPLE plans n.a. n.a.
 Roth IRA plans n.a. n.a.

 Roth conversions [2]
Type of plan
 Number Amount
 (7) (8)

Total 168,697 2,815,456
 Traditional IRA plans 168,697 -2,815,456
 SEP plans N/A N/A
 SIMPLE plans N/A N/A
 Roth IRA plans 168,697 2,815,456

 Withdrawals [3]
Type of plan
 Number Amount
 (9) (10)

Total 12,275,427 139,621,577
 Traditional IRA plans 11,737,957 133,041,979
 SEP plans 308,432 4,511,946
 SIMPLE plans 58,441 152,439
 Roth IRA plans 604,830 1,915,213

 End-of year fair market value
Type of plan
 Number Amount
 (11) (12)

Total 50,948,264 3,299,300,157
 Traditional IRA plans 40,776,679 2,956,687,858
 SEP plans 3,464,511 168,681,300
 SIMPLE plans 2,514,838 33,981,022
 Roth IRA plans 13,479,182 139,949,977

N/A--Not applicable

n.a.--Not avialble

[1] For SEP and SIMPLE plans, total contributions include
contributions made by the taxpayer directly, as well as
those made by an employer.

[2] For Tax Year 2004, owners of traditional IRAs were able to
convert traditional IRAs to Roth IRAs as long as they met the income
limitations for making Roth IRA contributions. Under certain
circumstances, SEP or SIMPLE IRAs could also be converted to Roth
IRAs; however, these amounts could not be identified separately for
the purpose of these statistics.

[3] Withdrawals are reported on Form 1099-R; does not include
withdrawals made for the purpose of rollovers to other IRA accounts
if the transfer was made by the trustee; Roth IRA
conversions are shown separately.

NOTES: Except as noted, all data are from matched Forms 1040 and
5498; all figures are estimates based on samples--money amounts are in
thousands of dollars.

SOURCE: Matched file of income tax returns, Forms 5498, and 1099-R
for Tax Year 2004.

Table 2. Taxpayers with Individual Retirement Arrangement (IRA) Plans,
by Size of Adjusted Gross Income, Tax Year 2004

[All figures are estimates based on samples--money amounts are in
thousands of dollars]

 All taxpayers

Size of adjusted Total With pension Eligible to
gross income [1] coverage on make IRA
 Forms W-2 [2] contributions

 (1) (2) (3)

All taxpayers, total 184,171,485 65,841,897 144,909,584
$0 2,402,976 148,412 782,603
$1 under $5,000 12,418,480 668,208 9,777,531
$5,000 under $10,000 13,373,159 1,374,082 10,573,960
$10,000 under $15,000 13,701,181 1,983,536 10,018,644
$15,000 under $20,000 13,918,724 2,937,962 10,072,756
$20,000 under $25,000 12,075,188 3,459,320 9,231,616
$25,000 under $30,000 10,902,509 3,568,056 8,415,980
$30,000 under $40,000 18,599,929 7,320,313 14,685,266
$40,000 under $50,000 15,261,524 6,527,994 12,303,223
$50,000 under $75,000 29,572,650 14,352,348 24,280,955
$75,000 under $100,000 18,279,097 10,335,206 15,532,744
$100,000 under $200,000 18,077,046 10,631,607 15,172,513
$200,000 under $500,000 4,344,839 2,066,978 3,245,112
$500,000 under $1,000,000 804,100 313,132 545,207
$1,000,000 or more 440,083 154,743 271,474

 Taxpayers with IRA accounts
 reported on Form 5498

Size of adjusted Total contributions
gross income [1]
 Number Amount

 (4) (5)

All taxpayers, total 14,706,060 48,728,654
$0 105,045 339,361
$1 under $5,000 196,345 389,421
$5,000 under $10,000 261,293 488,915
$10,000 under $15,000 311,070 512,328
$15,000 under $20,000 441,218 774,275
$20,000 under $25,000 599,633 1,112,212
$25,000 under $30,000 650,748 1,386,144
$30,000 under $40,000 1,310,584 3,052,654
$40,000 under $50,000 1,401,947 3,677,978
$50,000 under $75,000 2,977,444 7,932,144
$75,000 under $100,000 2,370,275 7,503,213
$100,000 under $200,000 3,005,606 12,982,307
$200,000 under $500,000 848,705 6,532,438
$500,000 under $1,000,000 154,933 1,431,779
$1,000,000 or more 71,213 613,485

 Taxpayers with IRA accounts
 reported on Form 5498

 Contributions deducted
Size of adjusted on Form 1040
gross income [1]
 Number Amount

 (6) (7)

All taxpayers, total 5,587,535 20,245,616
$0 33,163 130,826
$1 under $5,000 37,802 75,551
$5,000 under $10,000 94,046 186,843
$10,000 under $15,000 144,741 223,550
$15,000 under $20,000 240,570 427,516
$20,000 under $25,000 330,899 631,152
$25,000 under $30,000 373,537 892,775
$30,000 under $40,000 725,114 1,798,240
$40,000 under $50,000 628,934 1,874,936
$50,000 under $75,000 1,080,961 3,300,832
$75,000 under $100,000 631,016 2,426,032
$100,000 under $200,000 883,586 4,586,624
$200,000 under $500,000 304,645 2,828,327
$500,000 under $1,000,000 53,800 607,724
$1,000,000 or more 24,721 254,688

 Taxpayers with IRA accounts
 reported on Form 5498

Size of adjusted Rollovers
gross income [1]
 Number Amount

 (8) (9)

All taxpayers, total 3,636,028 214,878,448
$0 30,811 1,234,872
$1 under $5,000 30,655 992,605
$5,000 under $10,000 79,814 2,561,548
$10,000 under $15,000 114,214 4,810,067
$15,000 under $20,000 117,316 3,692,873
$20,000 under $25,000 150,485 4,791,241
$25,000 under $30,000 132,419 4,926,566
$30,000 under $40,000 286,772 9,486,108
$40,000 under $50,000 302,068 12,118,226
$50,000 under $75,000 717,754 36,988,865
$75,000 under $100,000 576,893 29,428,700
$100,000 under $200,000 779,056 61,154,078
$200,000 under $500,000 244,371 29,791,969
$500,000 under $1,000,000 47,956 7,082,481
$1,000,000 or more 25,444 5,818,249

 Taxpayers with IRA
 accounts reported

Size of adjusted Roth conversions
gross income [1] [3]

 Number Amount

 (10) (11)

All taxpayers, total 168,697 2,815,456
$0 1,934 91,098
$1 under $5,000 1,327 8,041
$5,000 under $10,000 897 3,252
$10,000 under $15,000 3,131 23,118
$15,000 under $20,000 3,977 23,625
$20,000 under $25,000 6,548 45,538
$25,000 under $30,000 7,417 55,941
$30,000 under $40,000 20,961 175,916
$40,000 under $50,000 16,407 124,594
$50,000 under $75,000 42,311 573,854
$75,000 under $100,000 33,048 856,038
$100,000 under $200,000 29,401 516,992
$200,000 under $500,000 979 130,791
$500,000 under $1,000,000 275 69,876
$1,000,000 or more 84 116,782

 Taxpayers with IRA
 accounts reported

Size of adjusted Withdrawals [4]
gross income [1]
 Number Amount

 (12) (13)

All taxpayers, total 12,275,427 139,621,577
$0 116,294 1,540,883
$1 under $5,000 284,993 905,696
$5,000 under $10,000 626,137 2,632,107
$10,000 under $15,000 974,752 4,804,687
$15,000 under $20,000 1,025,986 5,163,777
$20,000 under $25,000 781,478 4,473,059
$25,000 under $30,000 700,161 4,789,422
$30,000 under $40,000 1,217,939 8,829,096
$40,000 under $50,000 1,092,850 9,126,556
$50,000 under $75,000 2,218,718 25,181,711
$75,000 under $100,000 1,353,985 21,390,645
$100,000 under $200,000 1,456,658 30,516,307
$200,000 under $500,000 337,777 14,157,116
$500,000 under $1,000,000 57,768 3,851,019
$1,000,000 or more 29,931 2,259,496

 Taxpayers with IRA
 accounts reported

Size of adjusted End-of-year fair market value
gross income [1]
 Number Amount

 (14) (15)

All taxpayers, total 50,948,264 3,299,300,158
$0 548,038 30,372,230
$1 under $5,000 911,630 26,476,772
$5,000 under $10,000 1,414,396 50,178,992
$10,000 under $15,000 1,939,179 78,921,056
$15,000 under $20,000 2,218,338 97,778,397
$20,000 under $25,000 2,151,528 85,627,414
$25,000 under $30,000 2,050,090 91,347,685
$30,000 under $40,000 4,338,263 182,163,851
$40,000 under $50,000 4,408,267 197,673,420
$50,000 under $75,000 9,980,108 534,142,176
$75,000 under $100,000 7,533,068 502,357,915
$100,000 under $200,000 9,675,188 798,035,628
$200,000 under $500,000 2,903,801 425,150,187
$500,000 under $1,000,000 570,240 112,107,613
$1,000,000 or more 306,130 86,966,822

[1] On joint returns, both taxpayers are placed into the same adjusted
gross income class, as determined by the total amount on the return.

[2] Number of taxpayers with pension coverage is determined from Form
W-2, box 13, which indicates participation in a retirement plan.

[3] Owners of traditional IRAs were able to convert them to Roth IRAs
as long as they met the income limitations for making Roth IRA
contributions. Under certain circumstances, SEP or SIMPLE IRAs could
also be converted to Roth IRAs; however, these amounts could not be
identified separately for the purpose of these statistics.

[4] Withdrawals are reported on Form 1099-R; does not include
withdrawals for the purpose of rollovers to other IRA accounts if the
transfer was made by the trustee; Roth IRA conversions are shown
separately.

SOURCE: Matched file of income tax returns, Forms 5498, and 1099-R for
Tax Year 2004.

Table 3. Taxpayers with Individual Retirement Arrangement (IRA) Plans,
by Type of Plan and by Size of Adjusted Gross Income, Tax Year 2004

[All figures are estimates based on samples--money amounts are in
thousands of dollars and average amounts are in whole dollars]

 Traditional IRA plans

 Total contributions

Size of adjusted Amount Average
gross income [1] Number ($1,000) [2] ($)
 (1) (2) (3)

All taxpayers, total 5,305,443 12,632,545 2,381
$0 43,203 108,754 2,517
$1 under $5,000 43,970 82,525 1,877
$5,000 under $10,000 71,044 133,563 1,880
$10,000 under $15,000 108,293 167,052 1,543
$15,000 under $20,000 187,866 352,481 1,876
$20,000 under $25,000 219,942 438,512 1,994
$25,000 under $30,000 273,741 561,719 2,052
$30,000 under $40,000 499,126 1,108,915 2,222
$40,000 under $50,000 527,263 1,235,223 2,343
$50,000 under $75,000 1,038,071 2,340,848 2,255
$75,000 under $100,000 651,211 1,501,565 2,306
$100,000 under $200,000 987,760 2,643,890 2,677
$200,000 under $500,000 502,773 1,496,036 2,976
$500,000 under $1,000,000 100,888 306,343 3,036
$1,000,000 or more 50,292 155,119 3,084

 Traditional IRA plans

 End-of-year fair market value

Size of adjusted Amount Average
gross income [1] Number ($1,000) ($)
 (4) (5) (6)

All taxpayers, total 40,776,681 2,956,687,858 72,509
$0 415,345 25,996,515 62,590
$1 under $5,000 621,972 23,517,218 37,811
$5,000 under $10,000 1,128,673 46,688,352 41,366
$10,000 under $15,000 1,632,942 74,218,593 45,451
$15,000 under $20,000 1,848,286 92,607,886 50,105
$20,000 under $25,000 1,681,348 80,451,666 47,850
$25,000 under $30,000 1,588,337 84,888,138 53,445
$30,000 under $40,000 3,368,445 166,628,097 49,467
$40,000 under $50,000 3,431,222 176,358,427 51,398
$50,000 under $75,000 7,830,006 480,170,196 61,324
$75,000 under $100,000 5,939,042 443,628,084 74,697
$100,000 under $200,000 7,900,227 704,880,614 89,223
$200,000 under $500,000 2,581,314 375,845,683 145,602
$500,000 under $1,000,000 523,280 100,509,155 192,075
$1,000,000 or more 286,242 80,299,234 280,529

 SEP plans [3]

 Total contributions

Size of adjusted Amount Average
gross income [1] Number ($1,000) ($)
 (7) (8) (9)

All taxpayers, total 1,571,637 13,757,176 8,753
$0 10,802 95,107 8,805
$1 under $5,000 7,292 26,768 3,671
$5,000 under $10,000 18,685 41,880 2,241
$10,000 under $15,000 15,879 55,070 3,468
$15,000 under $20,000 34,150 61,050 1,788
$20,000 under $25,000 48,670 99,385 2,042
$25,000 under $30,000 47,433 161,635 3,408
$30,000 under $40,000 111,669 354,938 3,178
$40,000 under $50,000 116,904 582,326 4,981
$50,000 under $75,000 247,139 1,281,909 5,187
$75,000 under $100,000 247,524 1,627,409 6,575
$100,000 under $200,000 401,446 4,388,066 10,931
$200,000 under $500,000 209,893 3,708,490 17,668
$500,000 under $1,000,000 38,638 901,986 23,345
$1,000,000 or more 15,513 371,157 23,926

 SEP plans [3]

 End-of-year fair market value

Size of adjusted Amount Average
gross income [1] Number ($1,000) ($)
 (10) (11) (12)

All taxpayers, total 3,464,511 168,681,300 48,688
$0 53,157 1,794,696 33,762
$1 under $5,000 34,724 492,094 14,172
$5,000 under $10,000 58,243 1,177,716 20,221
$10,000 under $15,000 57,286 1,246,283 21,755
$15,000 under $20,000 77,606 2,054,707 26,476
$20,000 under $25,000 106,380 1,574,781 14,803
$25,000 under $30,000 99,806 1,635,717 16,389
$30,000 under $40,000 226,418 4,318,146 19,072
$40,000 under $50,000 272,344 8,550,876 31,397
$50,000 under $75,000 559,401 19,785,421 35,369
$75,000 under $100,000 557,669 24,839,298 44,541
$100,000 under $200,000 853,469 46,691,095 54,707
$200,000 under $500,000 395,083 39,525,853 100,044
$500,000 under $1,000,000 77,708 9,615,764 123,742
$1,000,000 or more 35,217 5,378,853 152,735

 SIMPLE plans [4]

 Total contributions

Size of adjusted Amount Average
gross income [1] Number ($1,000) ($)
 (13) (14) (15)

All taxpayers, total 1,935,895 7,621,057 3,937
$0 8,817 41,374 4,693
$1 under $5,000 4,873 3,634 746
$5,000 under $10,000 24,035 46,990 1,955
$10,000 under $15,000 45,478 32,633 718
$15,000 under $20,000 57,577 59,407 1,032
$20,000 under $25,000 103,884 167,040 1,608
$25,000 under $30,000 121,358 243,615 2,007
$30,000 under $40,000 235,137 567,078 2,412
$40,000 under $50,000 193,724 489,605 2,527
$50,000 under $75,000 437,464 1,258,741 2,877
$75,000 under $100,000 268,343 1,176,925 4,386
$100,000 under $200,000 290,256 2,083,849 7,179
$200,000 under $500,000 118,585 1,157,115 9,758
$500,000 under $1,000,000 19,036 208,893 10,974
$1,000,000 or more 7,328 84,158 11,484

 SIMPLE plans [4]

 End-of-year fair market value

Size of adjusted Amount Average
gross income [1] Number ($1,000) ($)
 (16) (17) (18)

All taxpayers, total 2,514,839 33,981,023 13,512
$0 21,595 295,845 13,700
$1 under $5,000 12,169 74,299 6,106
$5,000 under $10,000 33,919 231,362 6,821
$10,000 under $15,000 63,910 490,346 7,672
$15,000 under $20,000 93,650 287,553 3,071
$20,000 under $25,000 143,262 560,396 3,912
$25,000 under $30,000 142,062 984,328 6,929
$30,000 under $40,000 285,488 2,325,134 8,144
$40,000 under $50,000 252,556 2,266,936 8,976
$50,000 under $75,000 551,920 5,422,148 9,824
$75,000 under $100,000 344,766 5,560,693 16,129
$100,000 under $200,000 384,286 8,766,666 22,813
$200,000 under $500,000 151,284 5,314,347 35,128
$500,000 under $1,000,000 24,524 990,508 40,389
$1,000,000 or more 9,448 410,462 43,444

 Roth IRA plans

 Total contributions

Size of adjusted Amount Average
gross income [1] Number ($1,000) [2] ($)
 (19) (20) (21)

All taxpayers, total 6,657,634 14,717,879 2,211
$0 45,357 94,126 2,075
$1 under $5,000 144,086 276,493 1,919
$5,000 under $10,000 152,031 266,483 1,753
$10,000 under $15,000 149,127 257,572 1,727
$15,000 under $20,000 184,434 301,337 1,634
$20,000 under $25,000 246,756 407,275 1,651
$25,000 under $30,000 238,080 419,175 1,761
$30,000 under $40,000 535,289 1,021,724 1,909
$40,000 under $50,000 623,365 1,370,824 2,199
$50,000 under $75,000 1,397,311 3,050,646 2,183
$75,000 under $100,000 1,346,487 3,197,315 2,375
$100,000 under $200,000 1,520,654 3,866,502 2,543
$200,000 under $500,000 68,111 170,799 2,508
$500,000 under $1,000,000 5,380 14,557 2,706
$1,000,000 or more 1,166 3,051 2,617

 Roth IRA plans

 End-of-year fair market value

Size of adjusted Amount Average
gross income [1] Number ($1,000) ($)
 (22) (23) (24)

All taxpayers, total 13,479,182 139,949,977 10,383
$0 144,539 2,285,174 15,810
$1 under $5,000 309,836 2,393,162 7,724
$5,000 under $10,000 289,692 2,081,563 7,185
$10,000 under $15,000 331,226 2,965,834 8,954
$15,000 under $20,000 365,358 2,828,252 7,741
$20,000 under $25,000 458,074 3,040,571 6,638
$25,000 under $30,000 453,956 3,839,502 8,458
$30,000 under $40,000 1,060,361 8,892,475 8,386
$40,000 under $50,000 1,206,220 10,497,180 8,703
$50,000 under $75,000 2,814,819 28,764,410 10,219
$75,000 under $100,000 2,419,114 28,329,840 11,711
$100,000 under $200,000 3,180,186 37,697,252 11,854
$200,000 under $500,000 396,660 4,464,304 11,255
$500,000 under $1,000,000 37,288 992,186 26,609
$1,000,000 or more 11,853 878,272 74,097

[1] On joint returns, both taxpayers are placed into the same adjusted
gross income class, as determined by the total amount on the return.

[2] The statistics are based on unaudited data and contain some amounts
in excess of the legal maximum. For additional explanation, see Data
Sources and Limitations section of the article.

[3] For SEP plans, total contributions include contributions made by
the taxpayer directly, as well as those made by an employer.

[4] For SIMPLE plans, total contributions include contributions made by
the taxpayer directly, as well as those made by an employer.

SOURCE: Matched file of income tax returns, Forms 5498, and 1099-R for
Tax Year 2004.

Table 4. Taxpayers with Individual Retirement Arrangement (IRA) Plans,
by Age of Taxpayer, Tax Year 2004

[All figures are estimates based on samples--money amounts are in
thousands of dollars and average amounts are in whole dollars]

 All taxpayers

 With pension Eligible to
 coverage on make IRA
Age Total Forms W-2 [1] contributions
 (1) (2) (3)

All taxpayers, 184,171,487 65,841,897 144,909,585
 total
No age information 91,904 21,443 65,757
Under 15 529,706 8,649 87,109
15 under 20 3,937,311 258,436 3,572,544
20 under 25 13,374,661 2,713,626 12,726,264
25 under 30 15,995,556 5,783,553 14,650,938
30 under 35 17,174,229 7,255,351 15,139,238
35 under 40 22,382,203 9,252,474 19,329,433
40 under 45 19,978,422 9,159,126 17,551,960
45 under 50 20,421,625 9,780,452 18,049,178
50 under 55 18,231,125 8,819,896 15,923,110
55 under 60 15,463,237 7,001,989 12,709,726
60 under 65 11,709,051 3,811,882 8,122,854
65 under 70 8,199,787 1,330,101 3,880,276
70 under 75 6,336,503 431,238 1,799,789
75 under 80 4,795,571 154,104 831,598
80 and over 5,550,596 59,577 469,811

 Taxpayers with IRA accounts reported

 Total contributions Contributions deducted
 on Form 1040

Age Number Amount Number Amount
 (4) (5) (6) (7)

All taxpayers, 114,706,060 48,728,653 5,587,536 20,245,617
 total
No age information 373 1,118 373 1,118
Under 15 13,339 31,321 4,928 9,668
15 under 20 65,143 116,133 16,008 9,691
20 under 25 372,072 636,528 102,300 147,847
25 under 30 954,669 1,850,938 263,236 479,717
30 under 35 1,229,889 2,980,507 348,648 888,514
35 under 40 1,770,672 5,478,932 497,512 1,964,155
40 under 45 1,762,876 5,564,245 566,875 2,026,130
45 under 50 2,129,986 7,263,563 780,225 2,972,204
50 under 55 2,231,785 8,200,025 921,688 3,467,085
55 under 60 2,004,599 8,081,549 906,406 3,686,415
60 under 65 1,383,096 5,473,130 727,772 2,849,851
65 under 70 627,634 2,266,942 382,501 1,335,607
70 under 75 127,858 632,955 55,460 328,062
75 under 80 26,119 110,213 8,452 52,636
80 and over 5,950 40,554 5,152 26,917

 Taxpayers with IRA accounts reported

 Rollovers Roth conversions [2]

Age Number Amount Number Amount
 (8) (9) (10) (11)

All taxpayers, 3,636,026 214,878,448 168,698 2,815,457
 total
No age information 373 186 0 0
Under 15 0 0 0 0
15 under 20 935 2,804 0 0
20 under 25 16,311 50,241 2,977 5,428
25 under 30 107,440 862,800 9,914 56,533
30 under 35 253,905 3,163,295 12,964 75,461
35 under 40 433,894 21,688,016 18,186 202,391
40 under 45 364,474 12,960,780 12,501 213,414
45 under 50 377,747 14,202,489 19,602 276,649
50 under 55 501,202 27,681,268 23,383 364,400
55 under 60 490,787 41,209,845 19,357 243,148
60 under 65 485,130 43,578,426 24,495 763,390
65 under 70 322,959 28,245,508 13,441 344,996
70 under 75 182,201 15,851,621 7,952 214,628
75 under 80 58,812 3,642,797 3,772 51,986
80 and over 39,856 1,738,372 154 3,033

 Taxpayers with IRA
 accounts reported

 Withdrawals [3]

Age Number Amount
 (12) (13)

All taxpayers, 12,275,427 139,621,578
 total
No age information 0 0
Under 15 4,697 5,977
15 under 20 3,649 12,091
20 under 25 36,782 255,320
25 under 30 166,685 542,640
30 under 35 266,096 1,274,516
35 under 40 482,856 5,362,356
40 under 45 489,603 5,114,872
45 under 50 607,792 6,453,626
50 under 55 589,935 9,185,031
55 under 60 696,766 12,838,593
60 under 65 1,075,833 21,775,755
65 under 70 1,184,720 21,581,413
70 under 75 2,684,097 27,339,128
75 under 80 2,364,365 17,555,964
80 and over 1,621,551 10,324,296

 Taxpayers with IRA
 accounts reported

 End-of-year fair

Age Number Amount
 (14) (15)

All taxpayers, 50,948,264 3,299,300,157
 total
No age information 2,829 172,135
Under 15 29,592 417,749
15 under 20 100,470 661,114
20 under 25 589,915 2,641,417
25 under 30 1,620,545 9,652,752
30 under 35 2,722,574 29,234,284
35 under 40 4,681,839 116,655,931
40 under 45 5,071,123 143,141,666
45 under 50 6,200,359 238,057,778
50 under 55 6,663,442 361,996,921
55 under 60 6,450,892 507,486,580
60 under 65 5,503,054 555,107,774
65 under 70 4,136,243 533,298,669
70 under 75 3,239,670 433,855,922
75 under 80 2,352,067 249,480,659
80 and over 1,583,650 117,438,806

[1] Number of taxpayers with pension coverage is determined from Form
W-2, box 13, which indicates participation in a retirement plan.

[2] Owners of traditional IRAs were able to convert them to Roth IRAs
as long as they met the income limitations for making Roth IRA
contributions. Under certain circumstances, SEP or SIMPLE IRAs could
also be converted to Roth IRAs; however, these amounts could not be
identified separately for the purpose of these statistics.

[3] Withdrawals are reported on Form 1099-R; does not include
withdrawals for the purpose of rollovers to other IRA accounts if the
transfer was made by the trustee; Roth IRA conversions are shown
separately.

SOURCE: Matched file of income tax returns, Forms 5498, and 1099-R for
Tax Year 2004.

Table 5. Taxpayers with Individual Retirement Arrangement (IRA) Plans,
by Taxpayer Filing Status and Gender, Tax Year 2004

[All figures are estimates based on samples--money amounts are in
thousands of dollars]

 All taxpayers

Filing status Total With Eligible to
and gender pension make IRA
 coverage on contributions
 Forms W-2
 [1]

 (1) (2) (3)

All taxpayers, total 184,171,487 65,841,898 144,909,584
 Men 120,045,432 45,046,379 99,835,865
 Women 64,126,055 20,795,519 45,073,719

Taxpayers filing joint 103,895,183 39,508,459 75,545,093
returns, total
 Men 68,005,850 27,890,967 52,985,222
 Women 35,889,333 11,617,492 22,559,871

Taxpayers filing 80,276,304 26,333,439 69,364,491
nonjoint returns, total
 Men 52,039,582 17,155,412 46,850,643
 Women 28,236,722 9,178,027 22,513,848

 Taxpayers with IRA accounts
 reported on Form 5498

 Total contributions

Filing status Number Amount
and gender
 (4) (5)

All taxpayers, total 14,706,060 48,728,654
 Men 9,782,527 34,356,396
 Women 4,923,534 14,372,258

Taxpayers filing joint 10,088,051 35,977,667
returns, total
 Men 6,762,052 25,704,277
 Women 3,325,999 10,273,390

Taxpayers filing 4,618,010 12,750,987
nonjoint returns, total
 Men 3,020,475 8,652,119
 Women 1,597,535 4,098,868

 Taxpayers with IRA accounts
 reported on Form 5498

 Contributions deducted
 on Form 1,040

Filing status Number Amount
and gender
 (6) (7)

All taxpayers, total 5,587,535 20,245,615
 Men 3,762,073 14,275,821
 Women 1,825,462 5,969,794

Taxpayers filing joint 3,400,575 12,839,011
returns, total
 Men 2,352,754 9,217,565
 Women 1,047,821 3,621,446

Taxpayers filing 2,186,960 7,406,604
nonjoint returns, total
 Men 1,409,319 5,058,256
 Women 777,641 2,348,348

 Taxpayers with IRA accounts
 reported on Form 5498

 Rollovers

Filing status Number Amount
and gender
 (10) (11)

All taxpayers, total 3,636,026 214,878,446
 Men 2,421,254 160,516,993
 Women 1,214,772 54,361,453

Taxpayers filing joint 2,546,473 166,088,135
returns, total
 Men 1,803,788 133,102,341
 Women 742,685 32,985,794

Taxpayers filing 1,089,553 48,790,311
nonjoint returns, total
 Men 617,466 27,414,652
 Women 472,087 21,375,659

 Taxpayers with IRA accounts
 reported on Form 5498

Filing status Roth conversions [2]
and gender
 Number Amount

 (12) (13)

All taxpayers, total 168,697 2,815,456
 Men 124,722 2,187,885
 Women 43,975 627,571

Taxpayers filing joint 111,450 2,136,798
returns, total
 Men 90,082 1,795,443
 Women 21,368 341,355

Taxpayers filing 57,247 678,658
nonjoint returns, total
 Men 34,640 392,442
 Women 22,607 286,216

 Taxpayers with IRA accounts
 reported on Form 5498

Filing status Withdrawals [3]
and gender
 Number Amount

 (14) (15)

All taxpayers, total 12,275,428 139,621,578
 Men 7,114,717 98,256,823
 Women 5,160,711 41,364,755

Taxpayers filing joint 8,157,568 97,859,050
returns, total
 Men 5,421,534 79,567,915
 Women 2,736,034 18,291,135

Taxpayers filing 4,117,860 41,762,528
nonjoint returns, total
 Men 1,693,183 18,688,908
 Women 2,424,677 23,073,620

 Taxpayers with IRA accounts
 reported on Form 5498

Filing status End-of-year fair market value
and gender
 Number Amount

 (17) (18)

All taxpayers, total 50,948,264 3,299,300,158
 Men 32,028,860 2,369,857,726
 Women 18,919,404 929,442,432

Taxpayers filing joint 36,565,457 2,511,761,138
returns, total
 Men 23,923,449 1,982,705,632
 Women 12,642,008 529,055,506

Taxpayers filing 14,382,807 787,539,020
nonjoint returns, total
 Men 8,105,411 387,152,094
 Women 6,277,396 400,386,926

[1] Number of taxpayers with pension coverage is determined from Form
W-2, box 13, which indicates participation in a retirement plan.

[2] Owners of traditional IRAs were able to convert them to Roth IRAs
as long as they met the income limitations for making Roth IRA
contributions. Under certain circumstances, SEP or SIMPLE IRAs could
also be converted to Roth IRAs; however, these amounts could not be
identified separately for the purpose of these statistics.

[3] Withdrawals are reported on Form 1099-R; does not include
withdrawals for the purpose of rollovers to other IRA accounts if the
transfer was made by the trustee; Roth IRA conversions are shown
separately.

SOURCE: Matched file of income tax returns, Forms 5498, and 1099-R for
Tax Year 2004.

Table 6. Taxpayers with Traditional Individual Retirement Arrangement
(IRA) Plans, by Type of Plan and by Age of Taxpayer, Tax Year 2004

[All figures are estimates based on samples--money amounts are in
thousands of dollars]

 Total contributions to Traditional IRA plans

Age Total Under $2,000
of
taxpayer Number Amount Number Amount
 ($1,000) ($1,000)

 (1) (2) (3) (4)
All taxpayers,
total 5,305,443 12,632,543 1,624,115 1,301,719

No age
information 373 1,118 0 0
Under 15 2,014 6,043 0 0
15 under 20 12,037 13,945 8,018 4,295
20 under 25 58,627 91,977 31,105 21,307
25 under 30 146,791 264,259 69,200 42,730
30 under 35 259,198 478,275 117,718 76,132
35 under 40 487,216 1,058,045 168,263 137,011
40 under 45 516,001 1,112,799 180,794 149,951
45 under 50 722,477 1,526,849 256,811 197,899
50 under 55 957,304 2,244,938 312,284 249,853
55 under 60 936,532 2,516,641 226,640 209,861
60 under 65 785,139 2,134,329 175,327 150,503
65 under 70 1/2 421,734 1,183,325 77,955 62,177

 Total contributions to Traditional IRA plans

Age Exactly $2,000 Over $2,000,
of under $3,000
taxpayer
 Number Amount Number Amount
 ($1,000) ($1,000)

 (5) (6) (7) (8)
All taxpayers,
total 362,076 724,152 276,557 684,008

No age
information 0 0 0 0
Under 15 0 0 0 0
15 under 20 2,006 4,012 999 2,596
20 under 25 10,051 20,102 2,040 4,275
25 under 30 8,417 16,833 6,786 17,528
30 under 35 13,511 27,021 16,634 41,119
35 under 40 24,791 49,582 23,473 59,385
40 under 45 23,790 47,580 32,143 77,447
45 under 50 48,580 97,160 38,887 97,195
50 under 55 82,743 165,487 51,164 124,464
55 under 60 67,466 134,932 38,301 96,009
60 under 65 45,101 90,202 51,388 127,125
65 under 70 1/2 35,620 71,241 14,742 36,865

 Total contributions to Traditional IRA plans

Age Exactly $3,000 Over $3,000,
of under $3,500
taxpayer
 Number Amount Number Amount
 ($1,000) ($1,000)

 (9) (10) (11) (12)
All taxpayers,
total 1,430,331 4,290,990 63,958 212,256

No age
information 373 1,118 0 0
Under 15 2,014 6,043 0 0
15 under 20 1,014 3,041 0 0
20 under 25 15,431 46,292 0 0
25 under 30 62,389 187,167 0 0
30 under 35 111,334 334,003 0 0
35 under 40 270,689 812,066 0 0
40 under 45 279,274 837,821 0 0
45 under 50 378,199 1,134,596 0 0
50 under 55 162,621 487,863 16,167 54,134
55 under 60 69,273 207,820 15,975 51,946
60 under 65 53,048 159,144 24,970 83,791
65 under 70 1/2 24,672 74,016 6,846 22,385

 Total contributions to
 Traditional IRA plans

Age Exactly $3,500
of
taxpayer Number Amount
 ($1,000)

 (13) (14)
All taxpayers,
total 1,548,405 5,419,416

No age
information 0 0
Under 15 0 0
15 under 20 0 0
20 under 25 0 0
25 under 30 0 0
30 under 35 0 0
35 under 40 0 0
40 under 45 0 0
45 under 50 0 0
50 under 55 332,325 1,163,137
55 under 60 518,878 1,816,073
60 under 65 435,304 1,523,564
65 under 70 1/2 261,898 916,642

NOTE: Traditional IRA refers to any IRA that is not a Roth IRA or a
SIMPLE IRA, as defined by Publication 590 p. 3.

SOURCE: Matched file of income tax returns, Forms 5498, and 1099-R
for Tax Year 2004.

Table 7. Taxpayers with Roth Individual Retirement Account (IRA) Plans,
by Type of Plan and by Age of Taxpayer, Tax Year 2004

[All figures are estimates based on samples--money amounts are in
thousands of dollars]

 Total contributions to Roth IRA plans

Age Total Under $2,000
of
taxpayer Number Amount Number Amount
 ($1,000) ($1,000)

 (1) (2) (3) (4)
All taxpayers,
total 6,657,633 14,717,879 2,515,215 2,134,841

No age
information 0 0 0 0
Under 15 9,383 24,451 2,368 3,600
15 under 20 55,106 101,496 25,476 18,578
20 under 25 264,229 467,664 128,421 79,656
25 under 30 623,182 1,131,993 302,895 219,350
30 under 35 731,835 1,378,890 347,879 282,502
35 under 40 920,401 1,792,073 430,128 378,903
40 under 45 861,184 1,775,124 350,208 303,086
45 under 50 930,255 1,984,428 337,964 281,269
50 under 55 890,184 2,216,069 286,649 273,457
55 under 60 738,191 2,062,376 167,903 170,954
60 under 65 408,634 1,116,980 100,959 87,710
65 under 70 143,024 414,754 23,964 25,024
70 or more 82,025 251,581 10,401 10,752

 Total contributions to Roth IRA plans

Age Exactly $2,000 Over $2,000,
of under $3,000
taxpayer
 Number Amount Number Amount
 ($1,000) ($1,000)

 (5) (6) (7) (8)
All taxpayers,
total 250,544 501,087 437,249 1,093,966

No age
information 0 0 0 0
Under 15 0 0 1,395 3,994
15 under 20 698 1,395 6,653 14,683
20 under 25 11,601 23,201 17,492 44,662
25 under 30 20,028 40,057 58,520 147,367
30 under 35 31,644 63,289 53,425 136,437
35 under 40 29,523 59,047 59,931 151,670
40 under 45 32,177 64,355 59,390 149,458
45 under 50 40,596 81,192 71,624 181,752
50 under 55 28,594 57,189 44,744 110,249
55 under 60 30,806 61,611 37,064 88,239
60 under 65 13,666 27,331 16,341 40,348
65 under 70 9,237 18,473 6,494 14,318
70 or more 1,974 3,947 4,176 10,789

 Total contributions to Roth IRA plans

Age Exactly $3,000 Over $3,000,
of under $3,500
taxpayer
 Number Amount Number Amount
 ($1,000) ($1,000)

 (9) (10) (11) (12)
All taxpayers,
total 2,192,661 6,577,980 81,501 278,372

No age
information 0 0 0 0
Under 15 5,619 16,857 0 0
15 under 20 22,280 66,839 0 0
20 under 25 106,715 320,145 0 0
25 under 30 241,740 725,219 0 0
30 under 35 298,887 896,662 0 0
35 under 40 400,818 1,202,453 0 0
40 under 45 419,409 1,258,226 0 0
45 under 50 480,071 1,440,214 0 0
50 under 55 154,629 463,887 31,778 108,024
55 under 60 30,787 92,361 22,140 75,992
60 under 65 17,513 52,538 17,273 58,961
65 under 70 8,973 26,920 5,920 20,487
70 or more 5,220 15,659 4,390 14,908

 Total contributions
 to Roth IRA plans

Age Exactly $3,500
of
taxpayer Number Amount
 ($1,000)

 (13) (14)
All taxpayers,
total 1,180,466 4,131,630

No age
information 0 0
Under 15 0 0
15 under 20 0 0
20 under 25 0 0
25 under 30 0 0
30 under 35 0 0
35 under 40 0 0
40 under 45 0 0
45 under 50 0 0
50 under 55 343,790 1,203,263
55 under 60 449,491 1,573,219
60 under 65 242,883 850,092
65 under 70 88,438 309,531
70 or more 55,864 195,525

NOTE: Roth IRA refers to an individual retirement plan that is subject
to the rules that apply to a traditional IRA with exceptions, as defined
by Publication 590 p. 36.

SOURCE: Matched file of income tax returns, Forms 5498, and 1099-R for
Tax Year 2004.

Figure A
Taxpayers with IRA Contributions, by Type of Plan, Tax Year 2004

 Total contributions

 Amount
Type of plan Number ($1,000) Percent
 (1) (2) (3)

Total 14,706,060 48,728,654 100
 Traditional IRA plans 5,305,442 12,632,543 26
 SEP plans 1,571,637 13,757,176 28
 SIMPLE plans 1,935,896 7,621,057 16
 Roth IRA plans 6,657,635 14,717,878 30

 End-of-year fair market value

 Amount
Type of plan Number ($1,000) Percent
 (4) (5) (6)

Total 50,948,264 3,299,300,157 100
 Traditional IRA plans 40,776,679 2,956,687,858 90
 SEP plans 3,464,511 168,681,300 5
 SIMPLE plans 2,514,838 33,981,022 1
 Roth IRA plans 13,479,182 139,949,977 4

Figure B
Taxpayers with IRA Contributions, by Size of Adjusted Gross Income,
Tax Year 2004

 IRA contributors IRA contributions

 Aver-
Size of adjusted Percentage Amount age
gross income Number of eligible ($1,000) ($1)

 (1) (2) (3) (4)

All taxpayers, total 14,706,060 10.0 48,728,654 3,314
$0 105,045 13.4 339,361 3,231
$1 under $10,000 457,638 2.2 878,336 1,919
$10,000 under $20,000 752,288 3.8 1,286,603 1,710
$20,000 under $30,000 1,250,381 7.1 2,498,356 1,998
$30,000 under $40,000 1,310,584 8.9 3,052,654 2,329
$40,000 under $50,000 1,401,947 11.4 3,677,978 2,623
$50,000 under $75,000 2,977,444 12.3 7,932,144 2,664
$75,000 under $100,000 2,370,275 15.3 7,503,213 3,166
$100,000 under $200,000 3,005,606 19.8 12,982,307 4,319
$200,000 or more 1,074,851 28.9 8,577,702 7,980

 End-of-year fair market value

Size of adjusted Amount Average
gross income Number ($1,000) ($1)

 (5) (6) (7)

All taxpayers, total 50,948,264 3,299,300,158 64,758
$0 548,038 30,372,230 55,420
$1 under $10,000 2,326,026 76,655,764 32,956
$10,000 under $20,000 4,157,517 176,699,453 42,501
$20,000 under $30,000 4,201,618 176,975,099 42,121
$30,000 under $40,000 4,338,263 182,163,851 41,990
$40,000 under $50,000 4,408,267 197,673,420 44,842
$50,000 under $75,000 9,980,108 534,142,176 53,521
$75,000 under $100,000 7,533,068 502,357,915 66,687
$100,000 under $200,000 9,675,188 798,035,628 82,483
$200,000 or more 3,780,171 624,224,622 165,131

Figure C
Taxpayers with IRA Contributions, by Age of Taxpayer, Tax Year 2004

 IRA contributors IRA contributions

Age Number Percentage Amount Average
 of eligible ($1,000) ($1)

 (1) (2) (3) (4)

All taxpayers, total 14,706,060 10.1 48,728,653 3,314
 No age information 373 0.6 1,118 2,997
 Under 30 1,405,223 4.5 2,634,920 1,875
 30 under 40 3,000,561 8.7 8,459,439 2,819
 40 under 50 3,892,862 10.9 12,827,808 3,295
 50 under 60 4,236,384 14.8 16,281,574 3,843
 60 under 70 2,010,730 16.8 7,740,072 3,849
 70 and over 159,927 5.2 783,722 4,900

 End-of-year fair market value

Age Number Amount Average
 ($1,000) ($1)

 (5) (6) (7)

All taxpayers, total 50,948,264 3,299,300,157 64,758
 No age information 2,829 172,135 60,847
 Under 30 2,340,522 13,373,032 5,714
 30 under 40 7,404,413 145,890,215 19,703
 40 under 50 11,271,482 381,199,444 33,820
 50 under 60 13,114,334 869,483,501 66,300
 60 under 70 9,639,297 1,088,406,443 112,913
 70 and over 7,175,387 800,775,387 111,600

Figure D
Taxpayers with IRA Contributions, by Taxpayer Filing Status and Gender,
Tax Year 2004

 IRA contributors IRA contributions

Filing status Number Percentage Amount Average
and gender of eligible ($1,000) ($1)

 (1) (2) (3) (4)

All taxpayers, total 14,706,060 10.1 48,728,654 3,314
 Men 9,782,527 9.8 34,356,396 3,512
 Women 4,923,534 10.9 14,372,258 2,919

Taxpayers filing joint 10,088,051 13.4 35,977,667 3,566
returns, total
 Men 6,762,052 12.8 25,704,277 3,801
 Women 3,325,999 14.7 10,273,390 3,089

Taxpayers filing 4,618,010 6.7 12,750,987 2,761
nonjoint returns,
total
 Men 3,020,475 6.4 8,652,119 2,864
 Women 1,597,535 7.1 4,098,868 2,566

 End-of-year fair market value

Filing status Number Amount Average
and gender ($1,000) ($1)

 (5) (6) (7)

All taxpayers, total 50,948,264 3,299,300,158 64,758
 Men 32,028,860 2,369,857,726 73,991
 Women 18,919,404 929,442,432 49,126

Taxpayers filing joint 36,565,457 2,511,761,138 68,692
returns, total
 Men 23,923,449 1,982,705,632 82,877
 Women 12,642,008 529,055,506 41,849

Taxpayers filing 14,382,807 787,539,020 54,756
nonjoint returns,
total
 Men 8,105,411 387,152,094 47,765
 Women 6,277,396 400,386,926 63,782
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Author:Bryant, Victoria L.
Publication:Statistics of Income. SOI Bulletin
Date:Mar 22, 2008
Words:10221
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