2022 Retirement Plan Contribution Limits
Author: Siân Killingsworth /
Reviewer: Dylan Telerski
12 Nov 2021
/
401(k) Resources, IRA Resources, Retirement News

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The IRS has announced the 2022 contribution limits for retirement and health savings accounts. This includes contribution limits for 401(k) and 403(b) plans, income limits for IRA contribution deductibility, and the salary threshold to classify “key” and “highly compensated employees”
While contribution limits for individual retirement accounts (IRAs) won’t increase from 2021 to 2022, there is good news for retirement savers who participate in a workplace employment plan like a 401(k).
Let’s take a look at the updated limits below:
2022 401(k) and 403(b) individual contribution limits (IRS 402(g) Limit)
Age 49 and under
$20,500
Age 50 and older
Additional $6,500
The IRS has also set limits for the total amount that may be contributed to your retirement savings 401(k) account from all sources combined (IRS section 415 limit). This includes any employer matching or profit-sharing contributions, and any employee after-tax contributions. For 2022, this limit has increased from $58,000 to a new maximum of $61,000.
Every plan is different, so it’s important to refer to your Plan Document for any compensation or other applicable limits.
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2022 Highly Compensated and Key Employee definitions and limits
Key Employee Officer Compensation
$200,000
Highly Compensated Employee
$135,000
Annual Compensation Limit
$305,000
2022 Roth and Traditional IRA contribution limits
Age 49 and under
Up to $6,500 (must have earned income)
Age 50 and older
Additional $1,000
2022 Traditional IRA modified adjusted gross income limit for partial deductibility
2022 Roth IRA modified adjusted gross income phase-out ranges
2022 Simple IRA contribution limits
2022 Health Savings Accounts (HSA) contribution limits
**Catch-up contributions can be made at any time during the year in which the HSA participant turns 55.
If you need more detailed guidance, see IRS Notice 2021-61.