401(k) and Retirement Plan Limits for 2022

Bottom Line Up Front

• The maximum 401(k) contribution for 2022 is $20,500, a $1,000 boost from 2021’s contribution limit
• 401(k) catch-up contributions remain the same at $6,500
• Maximum contribution limits for defined benefit plans increased by $15,000

The IRS recently released the new plan limits for 2022 and employee 401(k) contribution limits increased to $20,500, a $1,000 boost from the current 2021 contribution limit of $19,500.

The tables below show key 2022 limits side-by-side with the current 2021 and previous 2022 limits. If you’re a financial advisor, these charts are a great way to start conversations with clients on plan redesign, tax-efficient combo plans, and talent retention & recruitment for the year ahead.

What are the new 401(k) plan limits for 2022?

What are the 2022 limits for non-401(k) related plans?

Download the full whitepaper: 401(k) Plan Limits & Non-401(k) Related Limits

Bonus whitepaper: 2022 HSA and HDHP Limits

What is the 2022 contribution limit for IRAs?

This limit did not change for 2022 so it is still $6,000. The catch-up contribution also remained the same at $1,000.

If you’d like a closer look at these and other retirement-related limits for 2022, please refer to the IRS Notice 2021-61, released November 4th, 2021.

Advisors, if you’re interested in a more in-depth retirement plan comparison chart or a free retirement plan review, drop us a quick note here and we’ll have one of our consultants reach out to you.