2022 Retirement Contribution Limits

2022 Retirement Contribution Limits

In 2022, employees of businesses that offer retirement plans are eligible to increase their retirement account contributions per the Internal Revenue Service. Every year, the IRS reviews and makes any necessary changes to the contribution limits for retirement plans. These changes are based on the cost-of-living adjustments from the IRS.

Retirement Plan Contribution Limits

The IRS changes to the contribution limits for 2022 are as follows:

20212022Change
401(k) Contribution Limit$19,500$20,500+$1,000
401(k) Catch-Up for Age 50 & Older$6,500$6,500no change
SIMPLE IRA Contribution Limit$13,500$14,000+$500
SIMPLE IRA Catch-Up for Age 50 & Older$3,000$3,000no change
401(a)(17)Compensation Limits$290,000$305,000+$15,000
415(b) Annual Benefit Limit – Defined Benefit Dollar Limit$230,000$245,000+$15,000
415(c) Individual Annual Addition Contribution Limit$58,000$61,000+$3,000
416(i) Key Employee Threshold$185,000$200,000+$15,000
Highly Compensated Determination Limit (HCE)$130,000$135,000+$5,000
2021 vs 2022 Retirement Plan Contribution Limits

Knowing these new limits is important for businesses to stay compliant. Download our individual help cards to have on the go!

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Additional Changes

Other changes in 2022 include:

Traditional IRA income phase-out ranges for 2022:

  • $68,000 to $78,000 for single taxpayers
  • $109,000 to $129,000 for married couples filing jointly
  • $204,000 to $214,000 for married couples filing jointly with one non participating spouse

Roth IRA income phase-out ranges for 2022:

  • $129,000 to $144,000 for single taxpayers and heads of household
  • $204,000 to $214,000 for married couples filing jointly
  • $0 to $10,000 for married couples filing separately

Saver’s Credit income phase-out ranges for 2022 are:

  • $41,000 to $68,000 for married couples filing jointly
  • $30,750 to $51,000 for head of household
  • $20,500 to $34,000 for single and married individuals filing separately

IRS changes to the contribution limits for Health Savings Account (HSA) and Flexible Spending Accounts (FSA) can be found here.

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