The IRS is making the largest increase ever to 401(k) contribution limits for 2023. Employees can contribute up to $22,500 to their 401(k) accounts in 2023. The Internal Revenue Service said Friday that it will boost the maximum contribution limit to employee 401(k) accounts by $2,000 next year to $22,500, the largest increase on record, enabling millions of Americans to save and contribute thousands more dollars to tax-advantaged retirement accounts.12 Learn more here.
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