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2022 Retirement Plan Contribution Limits

The Internal Revenue Service (IRS) has released all retirement plan limits for the 2022 calendar year.

These limits are adjusted for inflation on an annual basis. In some cases, limits are the same as those in the calendar year 2021.

Benefit

2021

2022

Change

401(k) 403(b) Elective $19,500 $20,500 $1,000 Increase
Deferral Maximum 457(b) Non-qualified Deferred Compensation Limit $19,500 $20,500 $1,000 Increase
414(v) Catchup Contribution Limit $6,500 $6,500 No Change
415 Defined Contribution Annual Additional Maximum $58,000 $61,000 $3,000 Increase
401(a)(17) Annual Compensation Limit $290,000 $305,000 $15,000 Increase
414(q) Highly-Compensated Employee Limit $130,000 $135,000 $5,000 Increase
Social Security Wage Base $142,800 $147,000 $4,200 Increase
SIMPLE Employee Deferrals $13,500 $14,000 $500 Increase
415 Defined Benefit Dollar Maximum $230,000 $245,000 $15,000 Increase
Health Savings Account (HSA) Limit $3,600(Single)
$7,200(Family)
$3,650
$7,300
$50 Increase
$100 Increase
Health Savings Account Catch-Up Contribution (55 or older)(Single or Family) $1,000 $1,000 No Change

Download the 2022 Financial Bulletin to review contribution limit changes that may impact your company and employees.

Action Steps

  • Update retirement plan designs for the new limits and make sure that plan administration will be consistent with the new limits in 2022.
  • Communicate the new retirement plan limits to employees.

Interested in learning more ways to help your workforce? Check out the recent advisory session: 401k Plan Features That Can Help Your Employees Live Financially Free!.

Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

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