Below are the retirement plan contribution limits as defined by the IRS for the 2020, 2021, and 2022 calendar years.
Retirement Plan | 2022 | 2021 | 2020 |
401(k) | $20,500 | $19,500 | $19,500 |
403(b) | $2,050 | $19,500 | $19,500 |
Safe Harbor 401(k) | $2,050 | $19,500 | $19,500 |
Simple 401(k) | $14,000 | $13,500 | $13,500 |
Simple IRA | $14,000 | $13,500 | $13,500 |
SEP IRA | $61,000 | $58,000 | $57,000 |
401(k) Catch-up | $6,500 | $6,500 | $6,500 |
403(b) Catch-up | $6,500 | $6,500 | $6,500 |
Safe Harbor 401(k) Catch-up | $6,500 | $6,500 | $6,500 |
Simple 401(k) Catch-up | $3,000 | $3,000 | $3,000 |
Simple IRA Catch-up | $3,000 | $3,000 | $3,000 |
Traditional & Roth IRA | $6,000 | $6,000 | $6,000 |
Traditional & Roth IRA Catch-up | $1,000 | $1,000 | $1,000 |