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401(k) Contribution Limit Increases to $20,500, Up $1,000

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan is increased to $20,500, up from $19,500 for 2021 and 2020. For additional highlights about contribution changes for 2022, visit IRS.gov.