2022 Retirement Plan Contribution Limits

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Annual Contribution Limits 2022 2021
Traditional IRA, Roth IRA, Spousal, Guardian $6,000 $6,000
Traditional, Roth, Spousal IRA Catch-Up Contribution $1,000 $1,000
Education IRA – formerly Coverdell ESA (per beneficiary) $2,000 $2,000
Employer Deduction Limit (SEP, MPP,PSP, 401(k)5) 25% aggregate comp 25% aggregate comp
Elective Deferral (402(g) Limit): 401(k), SARSEP, 457 and 403(b)) $20,500 $19,500
Defined Contribution 415 Limit (the lesser of) 100% comp or $61,000 100% comp or $58,000
Salary Deferral Catch-Up Limit
(does not count against 415 limits in a 401(k) plan)
$6,500 $6,500
SIMPLE Plan Deferral $14,000 $13,500
SIMPLE IRA Catch-Up Limit $3,000 $3,000
Defined Benefit 415 Limit $245,000 $230,000
Annual Compensation Cap $305,000 $290,000
SEP Participation Compensation $650 $650
Highly Compensated Employee (HCE) $135,000 $130,000
Key Employee Officer Definition $200,000 $185,000
Social Security Taxable Wage Base $147,000 $142,800

 

To download a comprehensive PDF on the 2020 Retirement Plans, click here.

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