The new Retirement Plan Contribution Limits are official!
The following limits are going up for 2022:
· Maximum contributions for 401(k), 403(b) and 457 increases to $20,500
· The annual additions limit for defined contribution plans increases to $61,000
· The annual compensation limit increases to $305,000
· The Social Security Wage Base increases to $147,000
Review the full list of contribution limit changes below and share with your plan participants!