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Dan's Blog

One Thousand More Reasons to Contribute to a 403(b)/457(b) 🎉

November 9, 2022

The IRS announced last week that you will be able to contribute $1,000 more to your 403(b) and your 457(b) in 2022. That brings the maximum individual contributions limit to $20,500. The Age 50 Catch Up contribution limit remains unchanged at $6,500. 

Contact your employer ASAP if you wish to increase your contribution amount starting in January 2022. You will have to fill out a new salary reduction agreement indicating how much more you want to increase your savings. 

403(b)/457(b) Contribution Limits Over the Years

  • 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

403(b)/457(b) Age 50 Catch Up Over the Years

  • 2021 — $6,500
  • 2020 — $6,500 
  • 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

Note: The limit on annual contributions to an IRA remains unchanged at $6,000. The catch-up contribution limit for individuals aged 50 remains $1,000.

Stay wise and well (and contribute as much as you can).