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IRS Announces 401(k) Limit Increases To $20,500 For 2022

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A white egg in a nest on a white background with the word 401K on the egg.

CHARLOTTE – The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased to $20,500, up from $19,500.

The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs, and to claim the Saver’s Credit all increased for 2022.

Please click/copy or paste the link below for all the details:

https://www.irs.gov/newsroom/irs-announces-401k-limit-increases-to-20500

Jen Stevenson Payroll LLC is a proud member of Union County Chamber of Commerce, Waxhaw Business Association, and the American Payroll Association

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Jen Stevenson is a payroll professional with over 20 years experience having serviced more than 400 businesses. Her vast, professional expertise focuses on the intricacies of the entire payroll process for companies of all sizes and S-Corporations. Jen is the proud wife and mother of four amazing children. In addition to spending time with her family, she enjoys gardening and outdoor activities.