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  • Writer's pictureFran Gillis

2023 Retirement Plan Contribution Limits, How Much Can You Save?

Updated: Mar 28, 2023

Retirement Plan Contribution Limits have increased.

The following limits are going up for 2023:

  • Maximum contributions for 401(k), 403(b) and 457 increases to $22,500

  • The annual additions limit for defined contribution plans increases to $66,000

  • The annual compensation limit increases to $330,000

  • The Social Security Wage Base increases to $160,200

Review the full list of contribution limit changes below and share with your plan participants!






​Taxable Wage Base



​Highly Compensated Employee (HCE)



​Key Employee/Officer



​Defined Contribution Limit



​Maximum Contributions (401k/403b/457)



Maximum Catch-Up – Age 50+ ( 401k/403b/457)



Defined Benefit Limit






​SIMPLE Catch-Up – Age 50+



IRA Contribution Limit



​IRA Catch-Up – Age 50+



Fran Gillis and Lucas Gillis are Investment Advisor Representatives of Dynamic Wealth Advisors dba 401k Extra LLC. All advisory services offered through Dynamic Wealth Advisors.

This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.

©401(k) Marketing, LLC. All rights reserved. Proprietary and confidential. Do not copy or distribute outside original intent.


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