2023 Contribution Limits

https://yoursummit.com/wp-content/uploads/2022/10/Plan_Sponsor_Guide-2023_Contribution_Limits.pdf

The following limits are going up for 2023: 

  • Maximum contributions for 401(k), 403(b) and 457 increases to $22,500 
  • The annual additions limit for defined contribution plans increases to $66,000
  • The annual compensation limit increases to $330,000 
  • The Social Security Wage Base increases to $160,200 

Review the full list of contribution limit changes below and share with your plan participants! 

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