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