2022 Retirement Plan Contribution Limits

The Internal Revenue Service announced retirement plan contribution limits for 2022.

Rebecca Bitting, Trust OfficerFor the most part the 2022 limits are unchanged from the 2021 limits. The notable changes were the increase in the Roth IRA eligibility threshold and the ability for 401(k) and SIMPLE IRA participants to increase their contributions.

If you have questions or would like more details, please contact our Certified Retirement Services Professional (CRSP), Rebecca Bitting.

Contact Rebecca: 563.388.2575

2022 Contributions
Elective Deferrals2022
401(k), 403(b), 457(b) PlansLesser of $20,500 or 100% of participant's compensation
Simple IRAsLesser of $14,000 or 100% of participant's compensation
IRA Contribution Limits2022
IRAs (Traditional or Roth)Lesser of $6,000 or 100% of earned income
Additional "Catch Up" Limits2022
401(k), 403(b), 457(b)$6,500
IRAs (Traditional or Roth)$1,000
Roth IRA Compensation Limits - Income Phase Out Range2022
Single$129,000 - $144,000
Married Filing Jointly$204,000 - $214,000
Married Filing Seperately$0 - $10,000