The IRS’s employee contribution limit is $20,500 for 2022 and $22,500 for 2023. Employees who are 50 and older may make additional “catch-up” contributions up to $6,500 in 2022 for a total of $27,000 and $7,500 in 2023 for a total of $30,000.

You may make after-tax, non-Roth contributions beyond the IRS limits above and benefit from the Plan’s low fees. Total employer and employee 401(k) contributions may not exceed $61,000 (age 49 or younger) or $67,500 (age 50 and older) in 2022 and $66,000 (age 49 or younger) or $73,500 (age 50 and older) in 2023.