CHARLOTTE – The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased to $20,500, up from $19,500.
The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs, and to claim the Saver’s Credit all increased for 2022.
Please click/copy or paste the link below for all the details:
https://www.irs.gov/newsroom/irs-announces-401k-limit-increases-to-20500
Jen Stevenson Payroll LLC is a proud member of Union County Chamber of Commerce, Waxhaw Business Association, and the American Payroll Association
