IRS Announces 2022 Retirement Plan Contribution Limits
November 15, 2021
On November 4, 2021, the IRS announced the various adjustments applicable to retirement plan contribution limits for 2022.
- 402(g) annual elective deferral limits for 457, 403(b), and 401(k) plans increased to $20,500.
- Age 50 catch up limits for 457, 403(b) and 401(k) plans remain at $6,500.
- 415(c) annual additions limits for 401(a) plans will increase from $58,000 to $61,000.
- For 2022, traditional and Roth IRA contribution limits remain unchanged from 2021 at $6,000.
More details on the retirement plan limits are available from the IRS.
The tables below provide the 2022 and 2021 contribution limitations for 457, 401, 403(b) and IRA plans. Additional information is available at www.icmarc.org/contributionlimits.
457 Plan Limits
| Limitation | 2022 | 2021 |
|---|---|---|
| Annual Deferral Limit for 457 Plans | $20,500 | $19,500 |
| Pre-Retirement Catch-Up Limit | $20,500 ($41,000 total) |
$19,500 ($39,000 total) |
| Age 50 Catch-Up Limit | $6,500 ($27,000 total) |
$6,500 ($26,000 total) |
401 Plan Limits
| Limitation |
2022 |
2021 |
|---|---|---|
| 401 Defined Contribution Plans - Annual Additions (§415(c)(1)(A)) | $61,000 | $58,000 |
| 401 Defined Benefit Plans - Maximum Annual Benefit* (§415(b)(1)(A)) | $245,000 | $230,000 |
| 401 Annual Compensation Limit** (non-grandfather/grandfather) (§401(a)(17))) |
$305,000/$450,000 | $290,000/$430,000 |
|
Annual Deferral Limit for (§401(k) Plans (§402(g)) |
$20,500 | $19,500 |
| 401(k) Age 50 Catch-Up Limit (§414(v)) | $6,500 ($27,000 total) |
$6,500 ($26,000 total) |
403(b) Plan Limits
| Limitation | 2022 | 2021 |
|---|---|---|
| Annual Deferral Limit for 403(b) Plans | $20,500 | $19,500 |
| Age 50 Catch-Up Limit | $6,500 ($27,000 total) |
$6,500 ($26,000 total) |
Traditional IRA & Roth IRA Contribution Limits
| Limitation | 2022 | 2021 |
|---|---|---|
| Annual Contribution Limit | $6,000 | $6,000 |
| Age 50 Catch-Up Limit | $1,000 | $1,000 |
*Special limitations apply to defined benefit plans. Please contact your defined benefit plan administrator for additional information.
**OBRA 1993 provided a governmental exception for the maximum compensation limit that grandfathers certain employees under the 1993 compensation limit of $235,840. Employees eligible to participate in a governmental plan, utilizing the ICMA-RC plan document, prior to January 1, 1994, are subject to the maximum compensation limit of $235,840 as indexed and shown above as the "grandfather" limit. Employees eligible to participate in a governmental plan, utilizing the ICMA-RC plan document, after January 1, 1994, are subject to the maximum compensation limit of $150,000 as indexed and shown above as the "non-grandfather" limit.