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IRS raises limits for how much you can save for retirement

Por: NBC News Business October 24, 2022

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The amount of pre-tax money you can contribute to your retirement is increasing next year. Individual employees will be able to contribute up to $22,500 to their 401(k) retirement plans for the 2023 tax year, up from $20,500 in 2022, the Internal Revenue Service announced Friday. Under the IRS's defined contribution plan provision, employees will also see a total annual limit of $66,000 in 2023, up from $61,000 this year. This provision... + full article



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