The employee contribution limit for 401(k) and similar workplace plans will jump $2,000 to $22,500 for 2023.Photo: Ting Shen for The Wall Street Journal
Millions of Americans can save more in retirement accounts next year, after inflation adjustments made Friday by the Internal Revenue Service.
The employee contribution limit for 401(k) and similar workplace plans will jump $2,000 to $22,500 for 2023, the largest increase ever in terms of dollars and percentage, according to benefits provider Milliman.
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