Boom! 403(b) Contribution Limits Are Going Up!
October 25, 2022
With IRS news last week that employee 403(b) and 457(b) contributions will rise to $22,500 — up from $20,500 — we thought it would be interesting to look back at the steady rise in contribution limits since 2000.
403(b)/457(b) 2023 Contribution Limits
Employees will be able to contribute up to $22,500 in 2023. This is a $2,000 increase from 2022 limits. Those age 50 will be able to contribute an additional $7,500 which is a $1,000 increase from 2022. This means participants over age 50 can contribute up to $30,000 to each of these plans. An employer can contribute up to $43,500 for a total contribution of $66,000 for those under age 50 and a total contribution of $73,500 for those over age 50.
403(b)/457(b) 2000 - 2022 Employee Contribution Limits
|
2022 |
$20,500 |
|
2021 |
$19,500 |
|
2020 |
$19,500 |
|
2019 |
$19,000 |
|
2018 |
$18,500 |
|
2017 |
$18,000 |
|
2016 |
$18,000 |
|
2015 |
$18,000 |
|
2014 |
$17,500 |
|
2013 |
$17,500 |
|
2012 |
$17,000 |
|
2011 |
$16,500 |
|
2010 |
$16,500 |
|
2009 |
$16,500 |
|
2008 |
$15,500 |
|
2007 |
$15,500 |
|
2006 |
$15,000 |
|
2005 |
$14,000 |
|
2004 |
$13,000 |
|
2003 |
$12,000 |
|
2002 |
$11,000 |
|
2001 |
$10,500 |
|
2000 |
$10,500 |
403(b)/457(b) 2000 - 2022 Age 50 Catch-Up
|
2022 |
$6,500 |
|
2021 |
$6,500 |
|
2020 |
$6,000 |
|
2019 |
$6,000 |
|
2018 |
$6,000 |
|
2017 |
$6,000 |
|
2016 |
$6,000 |
|
2015 |
$6,000 |
|
2014 |
$5,500 |
|
2013 |
$5,500 |
|
2012 |
$5,500 |
|
2011 |
$5,500 |
|
2010 |
$5,500 |
|
2009 |
$5,500 |
|
2008 |
$5,000 |
|
2007 |
$5,000 |
|
2006 |
$5,000 |
|
2005 |
$4,000 |
|
2004 |
$3,000 |
|
2003 |
$2,000 |
|
2002 |
$1,000 |
|
2001 |
0 |
|
2000 |
0 |
Stay wise and well and save as much as you can.
