2022 Retirement Savings Plan Contribution Limits (401k, 457 & More)
The information below summarizes the retirement plan contribution limits for 2022.
| Plan | Normal Limit | “Age 50” Catch-up Limit | “Pre-Retirement” Catch-up Limit |
|---|---|---|---|
| 457 | $20,500 | $6,500 | $20,500 |
| 401(a) | $61,000 | N/A | N/A |
| 401(k) | $20,500 | $6,500 | N/A |
| 403(b) | $20,500 | $6,500 | $15,500 lifetime cap |
| IRA | $6,000 | $1,000 | N/A |
N/A = Not applicable
More details on the retirement plan limits are available from the IRS.
457 Plans
The normal contribution limit for elective deferrals to a 457 deferred compensation plan is increased to $20,500 in 2022. Employees age 50 or older may contribute up to an additional $6,500 for a total of $27,000. Employees taking advantage of the special pre-retirement catch-up may be eligible to contribute up to double the normal limit, for a total of $41,000.
401(a) Plans
The total contribution limit for 401(a) defined contribution plans under section 415(c)(1)(A) increased from $58,000 to $61,000 for 2022. This includes both employer and employee contributions.
401(k) Plans
The annual elective deferral limit for 401(k) plan employee contributions is increased to $20,500 in 2022. Employees age 50 or older may contribute up to an additional $6,500 for a total of $27,000.
The total contribution limit for both employee and employer contributions to 401(k) defined contribution plans under section 415(c)(1)(A) increased from $58,000 to $61,000 ($67,500 if age 50 or older).
403(b) Plans
The annual elective deferral limit for 403(b) plan employee contributions is increased to $20,500 in 2022. Employees age 50 or older may contribute up to an additional $6,500 for a total of $27,000.
The total contribution limit for both employee and employer contributions to 403(b) plans under section 415(c)(1)(A) increased from $58,000 to $61,000 ($67,500 if age 50 or older).
IRAs
The contribution limit for Traditional and Roth IRAs remains the same in 2022 at $6,000. Employees age 50 or older are eligible to contribute an additional $1,000, for a total of $7,000.