IRS 2023 Retirement Plan Contributions

Maximum workplace retirement plan contribution amounts

2023

2022

401(k), 403(b), most 457 plans and federal Thrift Savings Plan

$22,500

$20,500

Catch-up contributions in these plans for people 50 and older

$7,500

$6,500

 

IRA contribution limits

2023

2022

Traditional and Roth IRAs for people younger than 50

$6,500

$6,000

Catch-up IRA contributions for people 50 and older

$1,000

$1,000

Defined benefit pension plan annual benefit limits

$265,000

$245,000

Annual employer limit for 401(k)-type plans, SEP IRAs and solo 401(k)s

$66,000

$61,000

Annual contribution limit for SIMPLE plans

$15,500

$14,000

Catch-up contribution limit for people age 50 and up

$3,500

$3,000

 

Adjusted gross income phaseout range of IRA deductibility

2023

2022

Single and contributing to a workplace plan

$73,000
 to $83,000

$68,000
 to $78,000

Married filing jointly when the spouse making the contribution has a workplace plan

$116,000
to $136,000

$109,000
to $129,000

Married and covered by a workplace place plan but filing separately

$0 to $10,000

$0 to $10,000

 

Roth IRA income eligibility phaseout

2023

2022

Single and head of household filers

$138,000
to $153,000

$125,000
to $144,000

Married filing jointly or qualified widow/widowers

$218,000,000
to $228,000

$204,000
to $214,000