Get all your news in one place.
100's of premium titles.
One app.
Start reading
Axios
Axios
Business

IRS increases 401(k), IRA contribution limits for inflation

IRS IRA Inflation

The Internal Revenue Service is raising contribution limits for tax-deferred retirement plans by a record 9.8% for 2023 because of inflation.

Driving the news: Starting next year, Americans can contribute up to $22,500 into 401(k), 403(b) and most 457 plans — $2,000 more than the current $20,500 contribution limit, the IRS announced Friday.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
A TikToker found mini pumpkin pies at Trader Joe’s after buying one at Starbucks that morning, and asks ‘Why is it the same pie?’
One TikTok shopper spotted a near twin of her Starbucks pie
We Got This Covered
We Got This Covered
50 Cent Tells Kimmel Diddy Watched His Netflix Doc on iPad in Prison, Jokes 'This Is Not Jail, This Is a Club'
50 Cent joked on Jimmy Kimmel about reports that Diddy watched his Netflix documentary on a modified tablet in prison.
International Business Times UK
International Business Times UK
‘It’s really weird you said skinwalker,’ a New York TikToker says she told her boyfriend after hearing heavy steps near a Virginia cabin
A viral dance video came moments before a 1 AM escape from the woods
We Got This Covered
We Got This Covered
Dale Jr. explains why he doesn't use 'Earnhardt' in his signature
Along with being easier when signing for NASCAR fans, it was also 'legally a little touchy' with Teresa Earnhardt for a while
Motorsport
Motorsport
In 1956, Tressa Prisbrey turned discarded bottles into a 15-building folk-art village in California
Tressa Prisbrey, at age 60, began building Bottle Village using glass bottles from a local landfill. Over 25 years, she constructed 15 unique structures dedicated to her lost children and their memories. The site eventually became a cultural landmark and received various recognitions for its artistic significance. Visitors paid small…
The Times of India
The Times of India
1.5% Mix Not Universally Optimal: Lab tests split on butt–asphalt blends; researchers warn on ‘best’ dose
Innovative research has found that incorporating cigarette-butt waste into asphalt mixtures could significantly enhance pavement quality. A study showed that a blend with 1.5% cigarette butts achieved optimal deformation resistance, while mixtures containing 2% butts exhibited greater thermal stability. Various methods for safely encapsulating the butts were also explored to…
The Times of India
The Times of India
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play