2022 Retirement and Health Benefit Plan Limits
- Wyatt Yates
- May 21, 2023
- 1 min read
There are several changes to retirement plan contribution limits, as well as other employee benefits in 2022. See the tables below.
Defined Contribution Plans (401(k), 403(b), most 457 plans, etc.)
| 2022 | 2021 | Change |
Maximum employee elective deferral (age 49 or younger) | $20,500 | $19,500 | +$1,000 |
Employee catch-up contribution (age 50 or older by year-end) | $6,500 | $6,500 | no change |
Maximum employee elective deferral plus catch-up contribution (age 50 or older) | $27,000 | $26,000 | +$1,000 |
Defined contribution maximum limit, employee + employer (age 49 or younger) | $61,000 | $58,000 | +$3,000 |
Defined contribution maximum limit (age 50 or older), all sources + catch-up | $67,500 | $64,500 | +$3,000 |
Employee compensation limit for calculating contributions | $305,000 | $290,000 | +$15,000 |
Key employees' compensation threshold for top-heavy plan testing | $200,000 | $185,000 | +$15,000 |
Highly compensated employees' threshold for nondiscrimination testing | $135,000 | $130,000 | +$5,000 |
Source: IRS Notice 2021-61
Individual Retirement Accounts, SEP IRAs, Solo 401(k)s, and SIMPLE
| 2022 | 2021 | Change |
Individual Retirement Accounts (Traditional or Roth IRAs) contribution limit | $6,000 | $6,000 | no change |
IRAs Catch-Up contribution limit | $1,000 | $1,000 | no change |
SEP IRA and Solo 401(k)s contribution limit | $61,000 | $58,000 | +$3,000 |
SIMPLE contribution limit | $14,000 | $13,500 | +$500 |
SIMPLE catch-up contribution limit | $3,000 | $3,000 | no change |
Source: IRS Notice 2021-61
Health Savings Accounts (HSAs) and High-Deductible Health Plans (HDHPs)
| 2022 | 2021 | Change |
HSA contribution limit (EE + ER) | $3,650(individual)/ $7,300(family) | $3,600(individual)/ $7,200(family) | +$50(individual)/ +100(family) |
HSA catch-up contributions (age 55 or older) | $1,000 | $1,000 | no change |
HDHP minimum deductibles | $1,400(individual)/ $2,800(family) | $1,400(individual)/ $2,800(family) | no change |
HDHP max out-of-pocket amounts | $7,050(individual)/ $14,100(family) | $7,000(individual)/ $14,000(family) | +$50(individual)/ +100(family) |
Source: IRS Notice 2021-25
Health Care Flexible Spending Accounts (FSAs)
| 2022 | 2021 | Change |
Maximum salary deferral | $2,850 | $2,750 | +$100 |
Maximum rollover amount | $570 | $550 | +$20 |
Source: IRS Notice 2021-45
