Tag - 401 (K) limit

IRS announces 401(k) limit increases to $20,500


Washington: The Internal Revenue Service announced this week that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020. The IRS 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...