The new Retirement Plan Contribution Limits are official!
The following limits are going up for 2023:
- Maximum contributions for 401(k), 403(b) and 457 increases to $22,500
The annual additions limit for defined contribution plans increases to $66,000
The annual compensation limit increases to $330,000
The Social Security Wage Base increases to $160,200
Review the full list of contribution limit changes below and share them with your plan participants!
If you have any questions regarding this upcoming year's contribution limits or any other related topic, please feel free to schedule a time for a quick chat via the calendar below: