Edward A. Wodarczyk

IRS and SSA Announce 2023 Indexed Numbers

Edward A. Wodarczyk, Esq., ewodarczyk@tuckerlaw.com, (412) 594-3920

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2023.

	2022	2023
Compensation Limit	$305,000	$330,000
Highly Compensated Employee	135,000	150,000
401(k), 403(b), 457(b) Deferral Limit	20,000	22,500
Age 50 Additional Catch-up Limit	6,500	7,500
Defined Contribution Plan Limit	61,000	66,000
Defined Benefit Plan Limit	245,000	265,000
Social Security Wage Base	147,000	160,200
HSA Individual Contribution Limit	3,650	3,850
HSA Family Contribution Limit	7,300	7,750
Health FSA Limit	2,850	3,050

See the IRS website for more details regarding cost-of-living increases.

For more information, contact Ed Wodarczyk at (412) 549-3940 or ewodarczyk@tuckerlaw.com.

November 10, 2022

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