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2022 Cost of Living Adjustments

November 8, 2021

UPDATE: Highly Compensated Employee figure has been corrected to $130,000 for 2022

The Internal Revenue Service has announced the 2022 cost of living adjustments to various limits. The adjusted amounts generally apply for plan years beginning in 2022. Some of the adjusted amounts, however, apply to calendar year 2022. Please click for a printer-friendly version of the table below.

Employee Benefit Plans
Plan Year20222021
401(k), 403(b), 457 deferral limit$20,500$19,500
Catch-up contribution limit (age 50 or older by end of year)$6,500$6,500
Annual compensation limit$305,000$290,000
Annual benefits payable under defined benefit plans$245,000$230,000
Annual allocations to accounts in defined contribution plans$61,000
(but not more than 100% of compensation)
(but not more than 100% of compensation)
Highly compensated employeeCompensation more than $130,000 in 2021 plan yearCompensation more than $130,000 in 2020 plan year
Health Savings Accounts
Calendar Year20222021
Maximum contribution
Catch-up contribution
(participants who are 55 by end of year)
Minimum deductible
Maximum out-of-pocket
Social Security
Calendar Year20222021
Taxable wage base$147,000$142,800
Maximum earnings without loss of benefits
Under full retirement age
Year you reach full retirement age
$1,630/mo. ($19,560/yr.)

$4,330/mo. up to month of full retirement age ($51,960/yr.)
$1,580/mo. ($18,960/yr.)

$4,210/mo. up to month of full retirement age ($50,520/yr.)
Social Security Retirement Age
Year of BirthRetirement Age
Prior to 1938Age 65
193865 and 2 months
193965 and 4 months
194065 and 6 months
194165 and 8 months
194265 and 10 months
1943 – 195466
195566 and 2 months
195666 and 4 months
195766 and 6 months
195866 and 8 months
195966 and 10 months
1960 and later67

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