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IRS ANNOUNCES RETIREMENT PLAN LIMITS FOR 2023


                                                   2022                2023 

​Taxable Wage Base                      147,000             160,200
Includable Compensation Limit      305,000             330,000
401(k)/403(b) Deferral
Limit (Under Age 50)                    20,500                22,500
401(k)/403(b)
Catch-Up Limit (Age 50+)               6,500                 7,500
Defined Contribution 415 Limit       61,000*              66,000**
Defined Benefit 415 Limit             245,000              265,000
SIMPLE Deferral Limit                    14,000               15,500
SIMPLE 401(k) Catch-Up Limit          3,000                 3,500
IRA Contribution Limit                      6,000                6,500
IRA Catch-Up Limit                         1,000                 1,000
Highly Compensated Employee      135,000              150,000
SEP Compensation Floor                     650                   750

*  $67,500 with 401(k) if age 50+
** $73,500 with 401(k) if age 50+