For additional information on Contribution Limits, see our 2023 COLA post here

Plan Section & Contribution Limits 2023 2022 2021
Maximum Defined Contribution Annual Additions $66,000 $61,000 $58,000
Salary Deferral 401(k)/403(b) Limit $22,500 $20,500 $19,500
Catch-Up Limit - 401(k)/403(b)/457 $7,500 $6,500 $6,500
Defined Benefit/Cash Balance Plan Limit - Annuity Limits $265,000 $245,000 $230,000
SIMPLE Plan Elective Deferrals $15,500 $14,000 $13,500
IRA Limits (Traditional and Roth) $6,500 $6,000 $6,000

 

Plan Compensation & Other Limits 2023 2022 2021
Maximum Compensation for Retirement Plan Purposes $330,000 $305,000 $290,000
HCE Compensation Limit $150,000 $135,000 $130,000
Key Employee Officer $215,000 $200,000 $185,000
Social Security Taxable Wage Base $160,200 $147,000 $142,500