Greenspring Advisors Corporate Retirement Plan Administration Insights
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October 24th 2022

2023 Contribution Limits

The new Retirement Plan Contribution Limits are official!

The following limits are going up for 2023:

  • Maximum contributions for 401(k), 403(b) and 457 increases to $22,500
  • The annual additions limit for defined contribution plans increases to $66,000
  • The annual compensation limit increases to $330,000
  • The Social Security Wage Base increases to $160,200

Review the full list of contribution limit changes below and share with your plan participants!

2023 Contribution Limits

Greenspring Advisors is a registered investment adviser with the SEC. Registration with the SEC does not imply a certain level of skill or training. Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.

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