401(k) Limit Increases To $22,500 For 2023, IRA Limit Rises To $6,500
The Internal Revenue Service announced last week that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS today also issued technical guidance regarding all of the cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year...
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