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Retirement 2022: IRS Announces New Retirement Plan Limit Increases

The IRS announced recently that the amount individuals can contribute to their corporate retirement plans (401(k), 403(b), 457(b), etc). in 2022 has officially increased to $20,500. This is a $1,000 increase from 2021, and 2020. Catch-up deposits for savers 50 and older will still remain at $6,500, for a total employee contribution limit for those 50 and older of $27,000 in 2022.


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M
Molly is the author of this solution article.

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