Retirement Plan Contributions

Elective Deferral Limits:

2022

• $20,500 to 401(k) plus $6,500 catch-up *
• $14,000 to SIMPLE plans plus $3,000 catch-up *
• $6,000 to Traditional or Roth IRAs plus $1,000 catch-up *

2021

• $19,500 to 401(k) plus $6,500 catch-up *
• $13,500 to SIMPLE plans plus $3,000 catch-up *
• $6,000 to Traditional or Roth IRAs plus $1,000 catch-up *

* Catch-up contributions can be made if you are age 50 or older by the end of the calendar year.