January 25, 2023
The Internal Revenue Service has increased the amount individuals can contribute to their 403(b) plans in 2023.
The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased to $22,500, up from $20,500 in 2022.
The limit on annual contributions to an IRA increased to $6,500, up from $6,000.
