The employee contribution limit for 401(k)s will jump to $22,500 for 2023, the largest increase ever due to inflation adjustments
The Internal Revenue Service says employee contribution limit for 401 will jump $2,000 to $22,500 for 2023, the largest increase ever.
Millions of Americans can save more in tax-advantaged retirement accounts next year, afterThe employee contribution limit for 401 and similar workplace plans will jump $2,000 to $22,500 for 2023, the largest increase ever in terms of dollars and percentage, according to benefits provider Milliman.
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