2023 Retirement Contribution Limits

In 2023 the maximum contribution to 401k and 403b plans is $22,500. Catch up contributions of up to $5,500 are allowed for those who are age 50 and above. For traditional and Roth IRAs, the maximum contribution is $6,500 with catch up contributions of $1,000 allowed. The maximum contribution for SIMPLE IRAs is $15,500 with catch up contributions of $3,500.