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2022 Contribution And Benefit Limits



With the close of the year coming it is time to look at benefit limits for 401(k) and other qualified plans.

Type of Limitation

2022

2021

401(k) Contribution Limits

$20,500

$19,500

401(k) Catch Up Contribution (over age 50)

$6,500

$6,500

​Defined Contribution Plan Annual Limit

$61,000

$58,000

SIMPLE Maximum Annual Elective Deferral

$14,000

$13,500

SIMPLE 401(k) or IRA Catch Up Limit

(over age 50)

$3,000

$3,000

Traditional IRA Contribution Limit

$6,000

$6,000

Traditional IRA Catch-Up Contribution

(over age 50)

$1,000

$1,000

Annual Allowable Compensation Limit

$305,000

$290,000

Highly Compensated Employee

$135,000 (1)

$130,000 (2)

Key Employee (3)

$200,000

$185,000

​Income Subject to Social Security Tax

$147,000

$142,800

Health Savings Account Contributions (Individual)

$3,650

$3,600

Health Savings Account Contributions (Family)

$7,300

$7,200

Health Savings Account Catch-Up Contribution

(over age 55)

$1,000

$1,000

Flexible Spending Account (FSA) Limits

$2,850

$2,750

(1) Applies for determining highly compensated employees for the 2023 plan year

(2) Applies for determining highly compensated employees for the 2022 plan year

(3) Please refer to the IRS website and your plan document for alternate definitions of ‘Key Employee’


This content is for general information only and is believed to be accurate and reliable as of 11/16/2021, but may be subject to change. It is not intended to provide investment, tax, plan design, or legal advice. Please consult with your professional advisor for more information.

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