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Home / News & Insights / Contribution Limits
Contribution Limits

Employee Benefits News and Advice

Learn something new when you subscribe to our e-News, e-invitation to events and training, interesting blog articles, and COBRA and CDS HR On-Demand updates.

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In 2023, several of the Cafeteria Plan and Retirement Plan annual limits are increasing. Check out the new limits below!

Annual Limits
2022
2023
401(k), 403(b), 457 Deferral $20,500 $22,500
401(k), 403(b), 457 “Catch-Up”  $6,500 $7,500
415 Defined Contribution Plan $61,000 $66,000
415 Defined Annual Compensation $305,000 $330,000
IRA Contribution $6,000 $6,000
IRA “Catch-Up” $1,000 $1,000
SIMPLE 401(k) $14,000 $15,500
SIMPLE “Catch-Up”  $3,000 $3,500
Social Security Wage Base $147,000 $160,200
Health Flexible Spending Arrangement $2,850 $3,050
Carryover Amount for Health FSAs $570 $610
Daycare $5,000 $5,000
HSA “Catch-Up” $1,000 $1,000
HSA Single Contribution $3,650 $3,850
HSA Family Contribution $7,300 $7,750
QSEHRA Self-Only Coverage $5,450 $5,850
QSEHRA Family Coverage $11,050 $11,800
EBHRA $1,800 $1,950

 

Mileage Reimbursement (flex)  $0.22/mile as of 7/1/2022

Questions? Contact one of our Third Party Administrators.

Filed Under: 401(k) Plans, 403(b) Plans, Flex Plans, General, Health Flexible Spending Accounts, Health Reimbursement Arrangements, Health Savings Account Plans, Homepage Featured, News & Insights, One Stop Shop, QSEHRAs, Resources, Retirement Plans Tagged With: Tool

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