IRS raises 401K contributions: IRS increases amount you can save for retirement in 2023 in unprecedented boost – ABC7 Chicago
The IRS on Friday announced a record increase in contribution limits to 401(k) and other tax-deferred retirement plans for 2023. Starting next year, you will be allowed to contribute up to $22,500 into your 401(k), 403(b), most 457 plans or the Thrift Savings Plan for federal employees. That’s $2,000 — or roughly 9.8% — more…
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