2023 retirement plan limits
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The Internal Revenue Service has announced the following inflation-adjusted retirement plan limits for 2023. Many of these limits rose, triggered by an increase in the cost-of-living index. However, the index increase did not trigger all limits to rise, as some have higher statutory thresholds.
|2023 Limit||2022 Limit||2021 Limit||2020 Limit|
|Annual Elective Deferrals
401(k) plans 402(g)(1)
|Annual Age 50 Catch-Up Contributions
401(k) plans §414(v)(2)(B)(i)
|Qualified Retirement Plans
Annual compensation limit §401(a)(17)/404(l)
|Defined Benefit Plans
Annual benefit limit §415(b)(1)(A)
|Defined Contribution Plans
Annual contribution limit §415(c)(1)(A)
Compensation threshold §414(q)(1)(B)
|Top Heavy Plan – Key Employees
Officer compensation threshold §416(i)(1)(A)(i)
Taxable wage base (OASDI only)
Health Savings Account
|HSA Catch-up Contributions
(age 55 or older)
Source: Internal Revenue Service
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