Wealth Strategy Insights

Wealth Strategy: Contribution Limits Increase in 2022

11 November 2021

For 2022, the IRS has increased the contribution limits into 401(k) and 403(b) plans to $20,500, up from $19,500. If you are older than 50 years old, the catch-up contribution remains unchanged at $6,500, bringing the employee contribution amount to $27,000. These new contribution limits also apply to most 457 and Thrift Savings Plans.

If you have an employer matching contribution or profit-sharing contribution, the total of all employee and employer contributions have increased to $61,000 from $58,000. For those over the age of 50, the contribution limit is $67,500 due to the catch-up provision.

Other contribution limits for 2022 are:

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