For 2023, 401(k) Contribution Limit Rises to $22,500 with $7,500 'Catch-Up'

Employee 401(k) contributions for plan year 2023 will rise by $2,000 to $22,500 with an additional $7,500 catch-up contribution allowed for those turning age 50 or older. The contribution cap is a goal that may encourage savers to defer extra dollars, if they’re able to do so.
Source: New feed 2