The 2022 and 2021 benefit and contribution limits are as follows:
(Increased limits from 2021 are shown below in bold)
Important Annual Limits |
2022 |
2021 |
| Maximum Employee Deferral Limit (401(k), 403(b), & 457) |
$20,500 | $19,500 |
| Employee Catch-Up Contribution (401(k), 403(b) & 457 - if age 50 or older by year-end) |
$6,500 | $6,500 |
| Defined Contribution Maximum Limit (employee + employer contributions |
$61,000 | $58,000 |
| Defined Contribution Maximum Limit (employee + employer contributions, if age 50 or older by year-end) |
$67,500 | $64,500 |
| Employee Compensation Limit | $305,000 | $290,000 |
| Key Employees Compensation Threshold | $200,000 | $185,000 |
| Highly Compensated Employees Threshold | $135,000 | $130,000 |
| Social Security Taxable wage Base | $147,000 | $142,800 |
| IRA Contribution Limit | $6,000 | $6,000 |
| Defined Benefit Dollar Limit | $245,000 | $230,000 |