Important Plan Limits
IRS Announces Plan Limits for 2023
On October 21, 2022, the IRS released cost-of-living adjustments for various retirement plan limitations that will take effect on January 1, 2023. We have presented a few of the more important plan limits below. For more information, please contact us at 1-800-594-7700.
|
Description
|
2022 |
2023 |
|
|
|
22,500 |
| 401(k) Catch-Up Deferrals (Age 50+) |
|
6,500 |
7,500 |
|
|
|
15,500 |
| SIMPLE Catch-Up Deferrals (Age 50+) |
|
3,000 |
3,500 |
| DC Plan Contribution Limit (Section 415) |
|
|
66,000 |
|
|
|
330,000 |
|
|
|
150,000 |
|
|
|
160,200 |
