2023 Retirement Plan Limits

The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2023. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan has been increased to $22,500 in 2023. Additional information regarding the new limitations can be found in the table below.

401(k) Plan Limits

Non-401(k) Related Plan Limits

Don’t Let the Unexpected Derail Your Retirement Goals

When it comes to your golden retirement, don’t leave it up to chance. These 3 major factors could make or break your plans.

Source:

irs.gov

Individuals who are age 50 or over can make annual catch-up contributions.

This material is intended for informational/educational purposes only. It should not be construed as personal investment advice. Investing involves risk and the potential to lose principal. Please contact your financial advisor for more information specific to your situation.

Mariner Wealth Advisors (“MWA”), is an SEC registered investment adviser with its principal place of business in the State of Kansas. Registration of an investment adviser does not imply a certain level of skill or training. MWA is in compliance with the current notice filing requirements imposed upon registered investment advisers by those states in which MWA maintains clients. MWA may only transact business in those states in which it is notice filed or qualifies for an exemption or exclusion from notice filing requirements. Any subsequent, direct communication by MWA with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For additional information about MWA, including fees and services, please contact MWA or refer to the Investment Adviser Public Disclosure website. Please read the disclosure statement carefully before you invest or send money.