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Published: Nov 04, 2021 2 min read
Smartphone With Internal Revenue Service Homepage On Screen

You can contribute a bit more to your retirement plan in 2022.

The IRS announced Thursday that individuals can contribute $20,500 to their 401(k) plan in 2022, up from $19,500 for 2021 and 2020. The contribution limit also applies to other retirement plans, like 403(b)s, most 457 plans and the federal government's Thrift Savings Plan. The increase will be welcome news for the super savers who max out their accounts each year.