Most retirement plan participants can defer up to $20,500 to plans in 2022.
On November 4, 2021, the IRS announced cost of living adjustments changing dollar limitations for pension plans and other retirement-related items for the tax year 2022.
Click the image below to download the chart with the other updated benefit limits.
Source: Internal Revenue Service Notice 2021-61.
Please note, annual contribution rates are based on the IRS 2022 retirement plan limitations and are subject to change. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal or investment advice.