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.

What is the catch-up contribution limit for 403(b) plans?

The IRS also sets limits for catch-up contributions. Workers 50 and older can make catch-up contributions to their 403 (b) plans as a way to increase their retirement savings. In 2024, the catch-up contribution limit for workers 50 and older is $7,500.

What is the 401(k) & 403(b) contribution limit?

The contribution limit for employees who participate in 401 (k), 403 (b), and most 457 plans, as well as the federal government's Thrift Savings Plan is increased to $23,000, up from $22,500. The limit on annual contributions to an IRA increased to $7,000, up from $6,500.