Retirement Plan Limits

Code SectionExplanation20232022
402(g)(1) Elective DeferralsMaximum amount employees can contribute to a 401(k) or 403(b) Plan$22,500$20,500
414(q)(1)(B) Highly Compensated Employee ThresholdCompensation amount used to determine Highly Compensated Employees (Lookback year)$150,000$135,000
414(v)(2)(B)(i) Catch-up ContributionsAdditional amount those over age 50 can contribute to a 401(k) or 403(b) plan$7,500$6,500
415(c)(1)(A) Defined Contribution LimitsAnnual limit on all contributions (employee and employer) for 401(k) and 403(b) plans$66,000 $61,000
457(b)(2) and 457(c)(1) LimitsMaximum amount an employee and/or employer can contribute to a 457 Plan$22,500$20,500
Annual Compensation LimitMaximum Compensation for Qualified Plan Purposes$330,000 $305,000
Taxable Wage BaseSocial Security wage base$160,200 $147,000

Health and Cafeteria Plan Limits

Maximum Health FSA Election$3,200$3,050
Maximum Dependent Care FSA Election$5,000$5,000
HSA Max. Contribution (Single)$4,150$3,850
HSA Max. Contribution (Family)$8,300$7,750
HSA Catch-Up Contribution (55 and over)$1,000$1,000
HDHP Min. Annual Deductible (Single)$1,600$1,500
HDHP Min. Annual Deductible (Family)$3,200$3,000
HDHP Out of Pocket Max. (Single)$8,050$7,050
HDHP Out of Pocket Max. (Family)$16,100$15,000
Parking Max. Monthly Reimbursement$300$300
QSEHRA Max. Reimbursement (Single)$6,150$5,850
QSEHRA Max. Reimbursement (Family)$12,450$11,800
Transit Max. Monthly Reimbursement$315$300
Mileage Rate (for medical treatment)$.22/mi$0.22/mi
Annual Threshold of Highly Compensated Employee$155, 000$150,000
Annual Salary Threshold of Key Employee (officer/owners earning over)$220,000$215,000