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Unprecedented 401(k) boost: IRS increases amount you can save for retirement in 2023

Por: CNN Business October 22, 2022

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The IRS on Friday announced a record increase in contribution limits to 401(k) and other tax-deferred retirement plans for 2023. Starting next year, you will be allowed to contribute up to $22,500 into your 401(k), 403(b), most 457 plans or the Thrift Savings Plan for federal employees. That’s $2,000 – or roughly 9.8% – more than the current $20,500 federal contribution limit. The , to which the contribution limits are indexed. The... + full article



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