IRA for retired spouse

[ItsALongStory]

Hi,

I tried to use the search function but was unable to find a relevant response.

My wife and I are joint filers, she has been retired for a long time and is drawing a PERS pension. I read that there are options for me to contribute to an IRA for her since I work and we don't exceed the IRA threshold.

Does it make sense for me to contribute to an IRA for her given that she is already retired?
Whose age determines the amount that can be contributed? (She is over 50, I am not).

TIA

[terran]

Yes, as long as you have enough earned income to cover both your and her IRA contributions, she can contribute.

See https://www.irs.gov/retirement-plans/ira-deduction-limits, and the links from that page for lots of good information about traditional IRA deduction income limits, Roth IRA contribution income limits, and contribution limits.

IRAs are individual accounts, so while the spouse's income can be counted as income for the purposes of the earned income requirement, all other information applies to the individual who owns the account. This means that your wife should be looking at the limits for those not covered by a retirement account at work, and she is eligible for the over 50 catchup contribution limits.