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2022 Contribution Limits for Retirement Plans

2022 Contribution Limits for Retirement Plans

January 10, 2022

In November of 2021, the IRS officially released 2022 401(k), 403(b) and most 457 plan contribution limits. These limits largely mirrored industry predictions that have come out over the past few months. Employees will be able to contribute a maximum of $20,500 into those retirement plans next year, up from $19,500 this year. That increase also applies to the federal government’s Thrift Savings Plan. The catch-up contributions remained the same for employees aged 50 and older who participate in all of these plans, at $6,500. 

See the table below for more highlights.

Plan Type20222021
  401(k), 403(b) & 457 Plans 
       Elective Deferrals$20,500$19,500
       Catch-Up Contribution Limits$6,500$6,500
       Defined Contribution Limits$61,000$58,000
       Annual Compensation$305,000$290,000
       Contribution Limit$6,000$6,000
       Catch-Up Contributions (age 50+)$1,000$1,000
  IRA AGI Deduction Phase-Out Starts at  
       Joint Return$109,000$105,000
       Single or Head of Household$68,000$66,000
       Minimum Compensation$600$600
       Maximum Compensation$305,000$290,000
  SIMPLE Plans  
       Maximum Contribution$14,000$13,500
       Catch-Up Contributions (age 50+)$3,000$3,000

Income ranges for eligibility have all increased by the COLA and full details can be found on the IRS website . More retirement plan information for small business owners and plan sponsors can be found on our Employer Retirement Plan site.

You can review these changes in PDF form by clicking here.