Annual Plan Limits

Download PDF: Qualified Plan Limitations for 2022 & 2023 (COLA Limits)

Compensation Limits  2023   2022          
                 
Maximum annual compensation that may be considered for plan purposes $330,000.00   $305,000.00          
                 
Compensation above which an employee is considered Highly Compensated $150,000.00   $135,000.00          
                 
Contribution/Benefit Limits
                 
Maximum annual 401(k), 403(b), 457 and Roth deferrals $22,500.00   $20,500.00          
                 
Max annual catch-up 401(k), 403(b), 457 (governmental)  and Roth deferrals, if at least age 50 $7,500.00   $6,500.000          
                 
Maximum lifetime annual benefit payable from a Defined Benefit plan beginning with age 62 to 65 $265,000.00   $245,000.00          
                 
Maximum annual additions to a Defined Contribution plan $66,000.00   $61,000.00          
                 
Maximum elective deferrals to a SIMPLE Plan $15,500.00   $14,000.00          
                 
Maximum annual catch-up deferrals to a SIMPLE Plan $3,500.00   $3,000.00          
                 
Social Security Limits
                 
Social Security Maximum Taxable Wage $160,200.00   147,000.00          
                 

 

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