Contribution Limits 2022-2023

Calendar Year

2022

2023

Employee Salary Deferral Limit to 401(k) Plans
Employee Catch-up Elective Contributions

$20,500
$6,500

$22,500
$7,500

Employee Salary Deferral Limit to 403(b) Plans
Employee Catch-up Elective Contributions

$20,500
$6,500

$22,500
$7,500

Employee Salary Deferral Limit to SIMPLE 401(k) Plans
Employee Catch-up Elective Contributions

$14,000
$3,000

$15,500
$3,500

Defined Contribution Maximum Annual Addition (IRC § 415 (c))

$61,000

$66,000

Definition of Highly Compensated Employees:
Employee Compensation Exceeding (Prior Year) An employee owning more than (current and prior year)	$135,000 5%	$150,000 5%

Definition of Key Employees:
Officers Earning in Excess of A more than 1% Owner Earning in Excess of An employee owning more than	$200,000 $150,000 5%	$215,000 $150,000 5%

FICA Taxable Wage Base

$147,000

$160,200

Maximum Compensation Limit

$305,000

$330,000

Employer’s Deductible Contributions

25%