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New Member
posted Jan 31, 2023 5:48:06 PM

Does the 401k contribution limits include both my contribution AND my employer match or is it just my contribution?

Not much else to it, just want to make sure I don’t go over.

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1 Best answer
Expert Alumni
Jan 31, 2023 5:58:38 PM

Just your contribution.

 

Here are the highlights:

  • Annual employee contribution limit (2022): $20,500
  • Additional catch-up contributions for those age 50 and older (2022): $6,500
  • Income limits for contributions: None, but employee contributions can not exceed wages
  • Matching contributions: Depends on your employer's plan

Here's more detailed info on Retirement Accounts. 

2 Replies
Expert Alumni
Jan 31, 2023 5:58:38 PM

Just your contribution.

 

Here are the highlights:

  • Annual employee contribution limit (2022): $20,500
  • Additional catch-up contributions for those age 50 and older (2022): $6,500
  • Income limits for contributions: None, but employee contributions can not exceed wages
  • Matching contributions: Depends on your employer's plan

Here's more detailed info on Retirement Accounts. 

Level 15
Feb 1, 2023 4:50:36 AM

In addition, the overall (section 415(c)) limit on additions to your 401(k) for 2022 is the lesser of your compensation for the year or $61,000.  If you are over age 50 in 2022, increase that by the $6,500 catch-up for elective deferrals.