Buck Bond Group
IRS releases key retirement plan limits for 2022

IRS releases key retirement plan limits for 2022

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The IRS has issued Notice 2021-61 announcing the retirement plan limits for 2022.

Download this FYI Alert as a printable PDF

Retirement plan limits

The table below lists the key 2022 limits side by side with those in effect for 2021 — most of these limits have increased from 2021 to 2022.

2022

2021

401(k)/403(b) elective deferral maximum

            $20,500

            $19,500

§415 defined benefit dollar maximum

            $245,000

            $230,000

§415 defined contribution annual addition maximum

            $61,000

            $58,000

§457(b) plan deferral limit

            $20,500

            $19,500

§401(a)(17) annual compensation limit

            $305,000

            $290,000

§414(q) highly compensated employee limit

            $135,000

            $130,000

§414(v) catch-up contribution limit

            $6,500

            $6,500

§416(i) top-heavy key employee officer limit

            $200,000

            $185,000

In closing

Our For Your Reference, a wallet-sized booklet showing retirement plan and other benefit limits, as well as various key Social Security and Medicare figures, will be available shortly from your consultant.


Volume 44 | Issue 38