IRS Increases 401(k) Contribution Limits For 2022

Next year you’ll be able to sock away an extra $1,000 in your 401(k). Annual individual contribution limits for the 401(k) and many other workplace retirement plans will rise to $20,500 in 2022 from $19,500 in 2021, the Internal Revenue Service (IRS) announced on Nov. 4. This isn’t part of President Joe Biden’s Build Back […]