2022 Contribution Limits

https://yoursummit.com/wp-content/uploads/2021/11/2022-New-Contribution-Limits.pdf

The new Retirement Plan Contribution Limits are official!

The following limits are going up for 2022:

Maximum contributions for 401(k), 403(b) and 547 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!

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