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IRS Announces 2022 Retirement Plan Contribution and Benefit Limits

These adjustments are calculated and released by the Internal Revenue Service (IRS) each year. Released on November 4, the IRS provided tax inflation adjustments for 2022 in Notice 2021-61.

There are several changes in many of the 2022 plan limits so be sure to view a detailed listing below:


PLAN LIMITS202220212020
401(k)/403(b) Deferrals$20,500*$19,500$19,500
401(k)/403(b) Catch Up            $6,500$6,500$6,500
SIMPLE Deferrals                     $14,000*$13,500$13,500
SIMPLE Plan Catch Up$3,000$3,000$3,000
457 Deferrals              $20,500*$19,500$19,500
IRA Catch Up                      $1,000$1,000$1,000
Defined Contribution               $61,000*$58,000$57,000
Defined Benefit        $245,000*$230,000$230,000
Includible Compensation$305,000*$290,000$285,000
Tax Credit ESOP Maximum Balance                $1,230,000*       $1,165,000        $1,150,000         
Social Security Taxable Wage Base                      $147,000*$142,800$137,700
SEP Min. Participation Threshold    $650*$600$600
SEP Maximum Participation Threshold$290,000$290,000$285,000
Key Employee          $200,000*$185,000$185,000
Highly Compensated Employee$135,000*$130,000$130,000
Maximum Monthly Social Security $3,148$3,148$3,011
HSA Individual Contribution$3,650*$3,600$3,550
HSA Family Contribution                  $7,300*$7,200$7,100
HSA Catch Up Contribution (ages 55+)$1,000$1,000$1,000
HDHP Minimum Individual Deductible$1,400$1,400$1,400
HDHP Minimum Family Deductible$2,800$2,800$2,800
HDHP Out-of-Pocket Maximum - Self$7,050*$7,000$6,900
HDHP Out-of-Pocket Maximum - Family$14,100*$14,000$13,800
Monthly Transit/Van Pooling$280*$270$270
Monthly Qualified Parking      $280*$270$270
FSA Medical Maximum Deferral         $2,850*$2,750$2,750
Medical FSA Carryover$570*$550$550
FSA Dependent Care Max. Deferral   $5,000*$10,500$5,000
* Indicates a change from 2021 to 2022.

Download the complete list of 2022 limitations for benefit plans (PDF).

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