The IRS has lifted the cap on most tax-deferred retirement plans by $2,000, to $22,500 for next year.
IRA contribution limits will rise too, up $500 to $6,500.
Estimated reading time: 0 minutes, 16 seconds
IRS Boosts 401(k) Contribution Limit By a Record Amount
The annual limit on what retirement plan participants can contribute to their 401(k) accounts has gone up by an unprecedented sum for 2023. So reports CNN.
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