It doesn’t matter the circumstance. Whether you’re staying at home to raise the kids, working without employer coverage or taking extended leave while your spouse takes on the expenses, you don’t have to stop saving for retirement during a career hiatus. If your spouse has access to an employer-sponsored retirement plan and you don’t, you may be able to make a contribution to a Traditional or Roth Individual Retirement Account (IRA). 

Key Features

Eligibility Requirements
To make a spousal IRA contribution, you must meet the following IRS requirements:

  • You must be married.
  • You must file a joint federal income-tax return.
  • You must have joint compensation or earned income of at least the amount you contribute to your IRAs.

If you meet the IRS’s requirements, there are some key benefits to be had.

  • You can contribute to a Traditional IRA if you’re under 72, and all or part of your contributions may be tax-deductible depending on your income level.
  • If you’re 72 or older, and below the income limitations, you and your spouse could contribute to a Roth IRA. Withdrawals are tax-free, provided you’ve had the IRA for five years and reach age 59½.
  • The maximum annual contribution for spouses under age 50 is $6,000 for tax year 2019.
  • For spouses 50 or older, it’s $7,000 for tax year 2019.
  • You can contribute any amount up to these yearly maximums in a given year.
  • Used with other types of retirement savings plans, this type of IRA can help ensure your financial strategy stays on track 


This material is provided for general and educational purposes only; it is not intended to provide legal, tax or investment advice.  All investments are subject to risk.  We recommend that you consult an independent legal advisor or financial professional for specific advice about your individual situation.

The information herein is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Securities offered through Voya Financial Advisors, Inc. member SIPC.

Neither Voya nor its affiliated companies provide tax or legal advice. Please consult with your tax and legal advisors regarding your individual situation.