What is the 2023 403(b) contribution limit?

Feed your brain. Fund your future. The 2023 403 (b) contribution limit is $22,500 for pretax and Roth employee contributions. The combined employee and employer contribution limit is $66,000. Employees who are 50 and older can save an extra $7,500 in catch-up contributions, bringing their employee contribution limit to $30,000.

What if my 403(b) contribution is more than the allowable limit?

If the amount contributed is more than the allowable limit, you must include the excess that isn’t a Roth contribution in your gross income for the year contributed. Under the general limit on elective deferrals, the most that can be contributed to your 403 (b) account through a salary reduction agreement is $22,500 for 2023 and $23,000 for 2024.

What is a 403(b) 401(k) plan?

403 (b) plans are similar in many ways to 401 (k)s, and one thing they have in common is that they enable you to make large contributions toward retirement. For 2023, employees could contribute up to $22,500 to a 403 (b) plan. This contribution limit increases to $23,000 in 2024.