HR Newsletter: New 401(k) Limits for 2022


On Nov. 4, 2021, the Internal Revenue Service (IRS) announced new caps for employee and company 401(k) contributions in 2022:

2021 2022
Maximum employee elective deferral (age 49 and younger) $19,500 $20,500
Employee catch-up contribution (age 50 or older) $6,500 $6,500
Maximum employee elective deferral plus catch-up $26,000 $27,000

The new 2022 limits have been updated in our payroll system to ensure that the contributions from our clients’ employees do not exceed the annual dollar limits. Please let us know if you have any questions.