2022 IRS Benefits & Contributions Limits Announced (Posted on November 4, 2021 by )


irsOn November 4, 2021, the IRS issued IRS Notice 2021-61, announcing the changes in pensions and benefits limits for 2022. The maximum limit on deferrals under 401(k), 403(b), and 457(b) plans rose from $19,500 to $20,500; the maximum annual additions (primarily to defined contribution plans) rose from $58,000 to $61,000; and the annual limit on compensation taken into account rose from $290,000 to $305,000. Most other limits also rose significantly.

A chart showing details, and limits from 1996 to 2022, can be found at this link.