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 | ||||||