IRS Releases 2023 Contribution Limits

Plan Type 401(k), 403(b) & 457 Plans Elective Deferrals Catch-Up Contribution Limits Defined Contribution Limits Annual Compensation IRAs Contribution Limit Deferrals Catch-Up Contributions (age 50+) IRA AGI Deduction Phase-Out Start at Joint Return Single or Head of Household SEP Minimum Compensation Maximum Compensation SIMPLE Plans Maximum Contribution Catch-Up Contributions

2023 0 $22,500 $7,500 $66,000 $330,000 0 $6,500 $1,000 0 $116,000 $73,000 0 $750 $330,000 0 $15,500 $3,500 2022 0 $20,500 $6,500 $61,000 $305,000 0 $6,000 $1,000 0 $109,000 $68,000 0 $650 $305,000 0 $14,000 $3,000