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The IRS indexed dollar limits to qualified retirement plans for 2023 are provided in the table below. This update is provided for informational purposes and not intended as legal advice.
| Item | IRC Reference | 2023 Limit | 2022 Limit |
| 401(k) and 403(b) Employee Limit1 | 402(g)(1) | $22,500 | $20,500 |
| 457 Employee Deferral Limit | 457(e)(15) | $22,500 | $20,500 |
| Catch-up Contribution2 | 414(v)(2)(B)(i) | $7,500 | $6,500 |
| Defined Contribution Dollar Limit (age 49 or younger) | 415(c)(1)(A) | $66,000 | $61,000 |
| Defined Benefit Dollar Limit | 415(b)(1)(A) | $265,000 | $245,000 |
| Compensation Limit for calculating contributions3 | 401(a)(17); 404(l) | $330,000 | $305,000 |
| Highly Compensated Employee Income Limit4 | 414(q)(1)(B) | $150,000 | $135,000 |
| Key Employee Officer | 416(i)(1)(A)(i) | $215,000 | $200,000 |
| Social Security Taxable Wage Base | $160,200 | $147,800 |
| Item | IRC Reference | 2023 Limit | 2022 Limit |
| Limit on employee contributions to 401(k), 403(b), or 457 plan | $22,500 | $20,500 | |
| Limit on age 50+ catchup contributions to 401(k), 403(b), or 457 plan | $7,500 | $6,500 | |
| Traditional & Roth IRA contribution limits | $6,500 | $6,000 | |
| Traditional and Roth IRA age 50+ catchup contribution limit | $1,000 | $1,000 |
| Item | IRC Reference | 2023 Limit | 2022 Limit |
| Deductible IRA income limit, single active participant in workplace retirement plan | 25B(b)(1)(C) 25B(b)(1)(D) |
$73,000 $83,000 |
$68,000 $78,000 |
| Deductible IRA income limit, Married filing jointly Active participant in workplace retirement plan |
219(g)(3)(B)(i) 219(g)(3)(B)(ii) |
$116,000 $136,000 |
$109,000 $129,000 |
| Deductible IRA income limit, spouse is active participant in workplace retirement plan or Roth | 219(g)(7)(A) | $218,000 $228,000 |
$204,000 $214,000 |
| Roth IRA income limit, single | 408A(c)(3)(A) | $138,000 $153,000 |
$129,000 $144,000 |
| Roth IRA income limit, married filing jointly | 408A(c)(3)(A) | $218,000 $228,000 |
$204,000 $214,000 |
| SIMPLE 401(k) or SIMPLE IRA contributions limit | $15,500 | $13,500 | |
| SIMPLE 401(k) or SIMPLE IRA age 50+ catchup contributions limit | $3,500 | $3,000 |
View previous year information here.
1 Employee deferrals to all 401(k) and 403(b) plans must be aggregated for purposes of this limit. A lower limit applies to SIMPLE plans.
2 Available to employees age 50 or older during the calendar year. A lower limit applies to SIMPLE plans
3 All compensation from a single employer must be aggregated for purposes of this limit.
4 For the 2023 plan year, an employee who earns more than $150,000 in 2022 is a HCE.
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