What is the 2023 403(b) contribution limit?

Feed your brain. Fund your future. The 2023 403 (b) contribution limit is $22,500 for pretax and Roth employee contributions. The combined employee and employer contribution limit is $66,000. Employees who are 50 and older can save an extra $7,500 in catch-up contributions, bringing their employee contribution limit to $30,000.

How much can you contribute to a 403(b) retirement plan?

The maximum amount an employee can contribute to a 403 (b) retirement plan for 2024 is $23,000, up $500 from 2023. If you're 50 or older, you can contribute an additional $7,500 ($6,500 in 2022 and 2021) as a "catch-up" contribution, bringing your contribution total to $30,500. Be a smarter, better informed investor.

How much is a 403(b) tax deductible in 2024?

Withdrawals are subject to regular income tax. For 2024, the combined employee and employer contribution limit for a 403 (b) is $69,0000, an increase of $3,000 from the previous year. Some employers also permit both younger and older workers to make catch-up contributions under the so-called 15-year service rule.