Just released! 2023 IRS Contribution Limits with Significant Increases Effective 01/01/23

Starting Jan. 1, 2023, you and your clients may be able to invest more thanks to some significant increases in the dollar limitations for some retirement-related items for the 2023 tax year.

The defined contribution plan annual additions limit will increase from $61,000 to $66,000. See more limit changes here>

Federal tax law places limits on the dollar amount of contributions to retirement plans and the amount of benefits under a pension plan. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases.