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2023 Contribution Limits

  • Writer: Larry Kavanaugh, Jr.
    Larry Kavanaugh, Jr.
  • Oct 24, 2022
  • 1 min read



The new Retirement Plan Contribution Limits are official!


The following limits are going up for 2023:

  • Maximum contributions for 401(k), 403(b) and 457 increases to $22,500

  • The annual additions limit for defined contribution plans increases to $66,000

  • The annual compensation limit increases to $330,000

  • The Social Security Wage Base increases to $160,200


Review the full list of contribution limit changes below and share with your plan participants!2023 Contribution Limits


 
 

Contact Us

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Northeast Retirement Plan Advisors

950-A Union Rd Ste 31
West Seneca, NY 14224

Phone

716.674.6200 x 237 

This information was developed as a general guide to educate plan sponsors but is not intended as authoritative guidance or tax or legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation. In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations.

Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA SIPC.
 

The LPL Financial representative associated with this website may discuss and/or transact securities business only with residents of the following states: CO, FL, IN, MA, MD, MI, MN, MO, NC, NY, PA, SC

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