The IRS has released the Annual Plan Limitations for 2022 for defined contribution and defined benefit plans. 403(b), 457(b), & 401(k) elective deferral, catch-up and other key limits are listed below.
| 2021 Limits | 2022 Limits | |
|---|---|---|
| Employee Elective Deferrals to the 403(b), 457(b) and 401(k) Plans | $19,500 | $20,500 |
| Catch-Up Contributions (Age 50 or older) to the 403(b), 457(b) and 401(k) Plans | $6,500 | $6,500 |
| Annual Addition Dollar Maximum (applies to Employer-paid 401(a), 403(b) and 401(k) Plans) | $58,000 | $61,000 |
| Defined Benefit Dollar Maximum | $230,000 | $245,000 |
| Highly Compensated Employee Threshold (applies mainly to 401(k) Plans) | $130,000 | $135,000 |
| Key Employee Threshold (applies mainly to 401(k) Plans) | $185,000 | $200,000 |
| Annual Compensation (applies to almost all retirement plans) | $290,000 | $305,000 |
| Annual IRA contribution (unchanged) | $6,000 | $6,000 |
| IRA catch-up contributions (age 50 and older; unchanged) | $1,000 | $1,000 |
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