2023 Irs Contribution Limits
The 2023 limits have increased significantly over the 2022 limits: Therefore, participants in 401 (k), 403 (b), most 457 plans, and the federal government’s thrift savings plan who are 50 and older can contribute up to $30,000, starting in 2023. Cost of living adjustments will bring the 2023 limit to $22,500 ( up from $20,500) for individual. For those with a 401 (k), 403 (b), or 457 plan through an employer, your new maximum contribution limit will go up to.
But in 2023, the 401 (k) contribution limit increases to $22,500. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's thrift savings plan is increased. Under $228,000 (married, filing jointly) no. The 2023 limits have increased significantly over the 2022 limits: