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2023 IRS Retirement Plan Contribution Limits (3)

2023 IRS Retirement Plan Contribution Limits

October 21, 2022

The IRS has released the Annual Plan Limitations for 2023 for defined contribution and defined benefit plans. 403(b), 457(b), & 401(k) elective deferral, catch-up and other key limits are listed below.

 

 

 2022 Limits2023 Limits
Employee Elective Deferrals to the 403(b), 457(b) and 401(k) Plans $20,500 $22,500
Catch-Up Contributions (Age 50 or older) to the 403(b), 457(b) and 401(k) Plans$6,500 $7,500
Annual Addition Dollar Maximum (applies to Employer-paid 401(a), 403(b) and 401(k) Plans)$61,000 $66,000
Defined Benefit Dollar Maximum $245,000 $265,000
Highly Compensated Employee Threshold (applies mainly to 401(k) Plans)$135,000 $150,000
Key Employee Threshold (applies mainly to 401(k) Plans)$200,000 $215,000
Annual Compensation (applies to almost all retirement plans)$305,000 $330,000
Annual IRA contribution$6,000 $6,500
IRA catch-up contributions (age 50 and older; unchanged)$1,000 $1,000

 

Click here to download a PDF version of this information.
Click here to view a complete list of 2023 IRS limits.

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