{"id":6494,"date":"2022-11-13T20:09:49","date_gmt":"2022-11-14T01:09:49","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=6494"},"modified":"2022-11-13T20:09:49","modified_gmt":"2022-11-14T01:09:49","slug":"irs-announces-2023-limits","status":"publish","type":"post","link":"https:\/\/therosenbaumlawfirm.com\/blog\/?p=6494","title":{"rendered":"IRS announces 2023 limits"},"content":{"rendered":"<p>The\u00a0Internal Revenue Service announced the\u00a02023 contribution limits for retirement plans.<\/p>\n<p>The salary deferral limit for 401(k) and 403(b) plans will have a $2,000 increase to $22,500, and the catch-up provision for participants aged 50 or over will increase from $6,500 to $7,500. That means participants age 50 and over may have salary deferrals totaling $30,000.<\/p>\n<p>The amount individuals can contribute to their SIMPLE retirement accounts is increased to $15,500, up from $14,000.<\/p>\n<p>Annual IRA contributions increased to $6,500 from $6,000, and the catch-up provision remained unchanged at $1,000.<\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>The\u00a0Internal Revenue Service announced the\u00a02023 contribution limits for retirement plans. The salary deferral limit for 401(k) and 403(b) plans will have a $2,000 increase to $22,500, and the catch-up provision for participants aged 50 or over will increase from $6,500 &hellip; <a href=\"https:\/\/therosenbaumlawfirm.com\/blog\/?p=6494\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6494"}],"collection":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6494"}],"version-history":[{"count":1,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6494\/revisions"}],"predecessor-version":[{"id":6495,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6494\/revisions\/6495"}],"wp:attachment":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}