{"id":18603,"date":"2022-10-21T23:50:40","date_gmt":"2022-10-21T23:50:40","guid":{"rendered":"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/benefits\/pages\/2023-benefits-plan-limits-and-tresholds-chart.aspx"},"modified":"2022-10-21T23:50:40","modified_gmt":"2022-10-21T23:50:40","slug":"2023-benefit-plan-limits-thresholds-chart","status":"publish","type":"post","link":"https:\/\/squarehr.com\/index.php\/2022\/10\/21\/2023-benefit-plan-limits-thresholds-chart\/","title":{"rendered":"2023 Benefit Plan Limits & Thresholds Chart"},"content":{"rendered":"

<\/p>\n

<\/div>\n

401<\/span>(k) Plan Limits<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
Defined Contribution Plans<\/strong><\/td>\n 2023<\/strong><\/td>\n 2022<\/strong><\/td>\n Change<\/strong><\/td>\n<\/tr>\n
\n

Maximum employee elective deferral (age 49 or younger) 1<\/sup><\/p>\n<\/td>\n

\n

$22,500<\/strong><\/p>\n<\/td>\n

\n

$20,500<\/p>\n<\/td>\n

\n

+$2,000<\/p>\n<\/td>\n<\/tr>\n

\n

Employee catch-up contribution (age 50 or older by year-end) 2<\/sup><\/p>\n<\/td>\n

\n

$7,500<\/strong><\/p>\n<\/td>\n

\n

$6,500<\/p>\n<\/td>\n

\n

+$1,000<\/p>\n<\/td>\n<\/tr>\n

\n

Maximum employee elective deferral plus catch-up contribution (age 50 or older)<\/p>\n<\/td>\n

\n

$30,000<\/strong><\/p>\n<\/td>\n

\n

$27,000<\/p>\n<\/td>\n

\n

+$3,000<\/p>\n<\/td>\n<\/tr>\n

\n

Defined contribution maximum limit, employee + employer (age 49 or younger) 3<\/sup><\/p>\n<\/td>\n

\n

$66,000<\/strong><\/p>\n<\/td>\n

\n

$61,000<\/p>\n<\/td>\n

\n

+$5,000<\/p>\n<\/td>\n<\/tr>\n

\n

Defined contribution maximum limit (age 50 or older), all sources + catch-up<\/p>\n<\/td>\n

\n

$73,500<\/strong><\/p>\n<\/td>\n

\n

$67,500<\/p>\n<\/td>\n

\n

+$6,000<\/p>\n<\/td>\n<\/tr>\n

\n

Employee compensation limit for calculating contributions<\/p>\n<\/td>\n

\n

$330,000<\/strong><\/p>\n<\/td>\n

\n

$305,000<\/p>\n<\/td>\n

\n

+$25,000<\/p>\n<\/td>\n<\/tr>\n

\n

Key employees’ compensation threshold for top-heavy plan testing 4<\/sup><\/p>\n<\/td>\n

\n

$215,000<\/strong><\/p>\n<\/td>\n

\n

$200,000<\/p>\n<\/td>\n

\n

+$15,000<\/p>\n<\/td>\n<\/tr>\n

\n

Highly compensated employees\u2019 threshold for nondiscrimination testing 5<\/sup><\/p>\n<\/td>\n

\n

$150,000<\/strong><\/p>\n<\/td>\n

\n

$135,000<\/p>\n<\/td>\n

\n

+$15,000<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n

1<\/sup><\/span> The $22,500 elective deferral limit is also known as the 402(g) limit, after the relevant tax code section. Participants’ annual contributions may not exceed 100% of their compensation.<\/span><\/p>\n

\n

2<\/sup><\/span> The $7,500 catch-up contribution limit for participants age 50 or older applies from the start of the year for those turning 50 at any time during the year.
<\/span><\/span><\/p>\n

3<\/sup><\/span> Total contributions from all sources may not exceed 100% of a participant’s compensation.
<\/span><\/span><\/p>\n

4<\/sup><\/span> Includes officers of the company sponsoring the plan.<\/span><\/span><\/p>\n

5<\/sup><\/span> For the 2023 plan year, an employee who earned more than $150,000 in 2022 is an HCE.<\/span><\/p>\n

?Source: IRS Notice 2022-55.<\/span><\/div>\n<\/blockquote>\n<\/div>\n

HSA and HDHP Limits<\/span><\/p>\n

\n\n\n\n\n\n\n\n
Health Savings Accounts (HSAs) and High-Deductible Health Plans (HDHPs) <\/strong><\/td>\n 2023<\/strong><\/td>\n 2022<\/strong><\/td>\n Change<\/strong><\/td>\n<\/tr>\n
\n

HSA contribution limit
(employer + employee)<\/span><\/p>\n<\/td>\n

\n

Self-only: $3,850<\/strong><\/p>\n

Family: $7,750<\/strong><\/span><\/p>\n<\/td>\n

\n

Self-only: $3,650<\/p>\n

Family: $7,300<\/span><\/p>\n<\/td>\n

\n

Self-only: +$200<\/p>\n

Family: +$450<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

HSA catch-up contributions
(age 55 or older)<\/span><\/p>\n<\/td>\n

\n

$1,000<\/strong><\/p>\n<\/td>\n

\n

$1,000<\/p>\n<\/td>\n

\n

no change
(not indexed)<\/p>\n<\/td>\n<\/tr>\n

\n

HDHP minimum deductibles<\/p>\n<\/td>\n

\n

Self-only: $1,500<\/strong><\/p>\n

Family: $3,000<\/strong><\/span><\/p>\n<\/td>\n

\n

Self-only: 1,400<\/p>\n

F<\/span>amily: $2,800<\/span><\/p>\n<\/td>\n

\n

Self-only: +100<\/p>\n

Family: +200<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums)<\/p>\n<\/td>\n

\n

Self-only: $7,500<\/strong><\/p>\n

Family: $15,000<\/strong><\/span><\/p>\n<\/td>\n

\n

Self-only: $7,050<\/p>\n

Family: $14,100<\/span><\/p>\n<\/td>\n

\n

Self-only: +450<\/p>\n

Family: +$900<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: IRS Revenue Procedure 2022-24.
<\/span><\/p>\n

Health FSA Limits
<\/span><\/p>\n

\n\n\n\n\n\n
\n

Health Care Flexible Spending Accounts (Health FSAs) and Limited-Scope (Vision\/Dental) FSAs<\/strong><\/p>\n<\/td>\n

\n

2023<\/strong><\/p>\n<\/td>\n

\n

2022<\/strong><\/p>\n<\/td>\n

\n

Change<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Maximum salary deferral<\/p>\n<\/td>\n

\n

$3,050<\/strong><\/p>\n<\/td>\n

$2,850<\/td>\n\n

+$200<\/p>\n<\/td>\n<\/tr>\n

\n

Maximum rollover amount<\/p>\n<\/td>\n

\n

$610<\/strong><\/span><\/p>\n<\/td>\n

\n

$570<\/p>\n<\/td>\n

\n

+$40<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: IRS Revenue Procedure 2021-45.<\/span><\/p>\n

Dependent Care FSA Limits
<\/span><\/p>\n

\n\n\n\n\n\n
\n

Dependent Care FSAs (DC-FSAs) also called Dependent Care Assistance Plans (DCAPs)<\/strong><\/p>\n<\/td>\n

\n

2023<\/strong><\/p>\n<\/td>\n

\n

2022<\/strong><\/p>\n<\/td>\n

\n

Change<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Maximum salary deferral
(single taxpayers and married couples filing jointly)<\/p>\n<\/td>\n

\n

$5,000<\/strong><\/p>\n<\/td>\n

$5,000<\/td>\n\n

no change (not indexed)<\/p>\n<\/td>\n<\/tr>\n

\n

Maximum salary deferral
(married couples filing separately)<\/p>\n<\/td>\n

\n

$2,500<\/strong><\/span><\/p>\n<\/td>\n

\n

$2,500<\/p>\n<\/td>\n

\n

no change (not indexed)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: IRS Revenue Procedure 2022-38.<\/span>
<\/span><\/p>\n

QSEHRA <\/span> Limits<\/span><\/p>\n

\n\n\n\n\n
Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs) <\/strong><\/td>\n 2023<\/strong><\/td>\n 2022<\/strong><\/td>\n Change<\/strong><\/td>\n<\/tr>\n
\n

Maximum payments and reimbursements through the QSEHRA<\/p>\n<\/td>\n

\n

Self-only: $5,850<\/strong><\/p>\n

Family: $11,800<\/strong><\/span><\/p>\n<\/td>\n

\n

Self-only: $5,450<\/p>\n

Family: $11,050<\/span><\/p>\n<\/td>\n

\n

Self-only: +$400<\/p>\n

Family: +$750<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: IRS Revenue Procedure 2022-38.
<\/span><\/p>\n

Commuter Transit and Parking Limits
<\/span><\/p>\n

\n\n\n\n\n\n
\n

Qualified Transportation Benefit
 (monthly limits)<\/strong><\/p>\n<\/td>\n

\n

2023<\/strong><\/p>\n<\/td>\n

\n

2022<\/strong><\/p>\n<\/td>\n

\n

Change<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Transit passes and van pool services (employer + employee)<\/p>\n<\/td>\n

\n

$300<\/strong><\/p>\n<\/td>\n

\n

$280<\/p>\n<\/td>\n

\n

+$20<\/p>\n<\/td>\n<\/tr>\n

\n

Qualified parking<\/p>\n<\/td>\n

\n

$300<\/strong><\/p>\n<\/td>\n

\n

$280<\/p>\n<\/td>\n

\n

+$20<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: IRS Revenue Procedure 2022-38.<\/span><\/p>\n

Adoption Assistance<\/span><\/p>\n

\n\n\n\n\n\n\n\n
Adoption Benefits
(Annual limits)<\/strong><\/td>\n		 2023<\/strong><\/td>\n 2022<\/strong><\/td>\n Change<\/strong><\/td>\n<\/tr>\n
\n

Excludable Amount<\/p>\n<\/td>\n

\n

$15,950<\/strong><\/p>\n

<\/td>\n

\n

$14,890<\/p>\n

<\/td>\n

\n

+$1,060<\/p>\n

<\/td>\n<\/tr>\n

\n

Phase-out income thresholds:<\/strong><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Phase-out begins<\/p>\n<\/td>\n

\n

$239,230<\/strong><\/p>\n<\/td>\n

\n

$223,410<\/p>\n<\/td>\n

\n

+$15,820<\/p>\n<\/td>\n<\/tr>\n

\n

Phase-out complete<\/p>\n<\/td>\n

\n

$279,230<\/strong><\/p>\n<\/td>\n

\n

$263,410<\/p>\n<\/td>\n

\n

+$15,820<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: IRS Revenue Procedure 202-38.
<\/span><\/p>\n

Earnings Subject to Social Security Payroll Tax
<\/span><\/p>\n

\n\n\n\n\n
\n

Social Security (FICA) Payroll Tax<\/strong><\/p>\n<\/td>\n

\n

2023<\/strong><\/p>\n<\/td>\n

\n

2022<\/strong><\/p>\n<\/td>\n

\n

Change<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Maximum earnings subject to Social Security 12.4% FICA payroll tax (6.2% paid by employer and 6.2% paid by employee)<\/p>\n<\/td>\n

\n

$160,200<\/strong><\/p>\n<\/td>\n

\n

$147,000<\/p>\n<\/td>\n

\n

+$13,200<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: Social Security Administration.<\/span><\/p>\n


Visit SHRM’s resource page on <\/em> Open Enrollment<\/em><\/a>.<\/em><\/p>\n

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