News

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*2023* PLAN LIMITS HAVE BEEN RELEASED BY THE IRS!!!     

2023 Defined Contribution Plan Limits

Maximum employee elective deferral (401(k), 403b, 457)

$22,500

Employee catch-up contribution (if age 50 or older by year-end)

$7,500

Defined contribution maximum limit, all sources

$66,000

Defined contribution maximum limit (if age 50 or older by year end); maximum contribution all sources plus catch-up

$73,500

Employee compensation limit for calculating contributions

$330,000

Compensation threshold "key employees" in a top-heavy plan

$215,000

Compensation threshold for "highly compensated employees" (HCE threshold)

$150,000