Benefit limits updated for 2022
Effective 1 January 2022, the following Federal Income Tax limits have been updated:
| Benefit | Limit Type | 2021 Limit | 2022 Limit | Documentation |
|---|---|---|---|---|
| 401(k), Roth 401(k), 403(b), Roth 403(b), 457, Roth 457 |
Plan limit
Combined limit for contribution plan |
$19,500
$58,000 |
$20,500
$61,000 |
Limit Increase PublishedSection 415(d) |
| SIMPLE IRA | Contribution limit
Annual limit on compensation included in the 2% non-elective contribution Maximum employer contribution limit when an employer selects a 2% nonelective contribution. |
$13,500
$290,000 $5,800 |
$14,000
$305,000 $6,100 |
Limit Increase PublishedSection 415(d)COLA Increases |
| FSA | Health Flexible Spending Arrangements (FSA) | $2,750 | $2,850 | 26 CFR 601.602 |
| HSA | Maximum annual HSA contribution for an eligible individual with self-only coverageMaximum annual HSA contribution for an eligible individual with family coverage |
$3,600
$7,200 |
$3,650
$7,300 |
26 CFR 601.602 Parts 1 and 326 CFR 601.602 Parts 1 and 3 |
The catch-up contribution limits for 401(k), 403(b), 457 (and their Roth equivalents), as well as the catch-up limits for HSAs and SIMPLE IRAs, remain unchanged for 2022.
The Dependent Care FSA (FSADC) limits also remain unchanged for 2022.