Edward A. Wodarczyk, Esq., ewodarczyk@tuckerlaw.com, (412) 594-3920
The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2023.
2022 | 2023 | |
---|---|---|
Compensation Limit | $305,000 | $330,000 |
Highly Compensated Employee | 135,000 | 150,000 |
401(k), 403(b), 457(b) Deferral Limit | 20,000 | 22,500 |
Age 50 Additional Catch-up Limit | 6,500 | 7,500 |
Defined Contribution Plan Limit | 61,000 | 66,000 |
Defined Benefit Plan Limit | 245,000 | 265,000 |
Social Security Wage Base | 147,000 | 160,200 |
HSA Individual Contribution Limit | 3,650 | 3,850 |
HSA Family Contribution Limit | 7,300 | 7,750 |
Health FSA Limit | 2,850 | 3,050 |
See the IRS website for more details regarding cost-of-living increases.
For more information, contact Ed Wodarczyk at (412) 549-3940 or ewodarczyk@tuckerlaw.com.
November 10, 2022
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