An Asset Protection Tip For Professionals And A Way For Pre-Retirees To Catch Up On Retirement Saving
Published Wednesday, January 19, 2022 at: 11:02 PM EST
If you’re a pre-retiree who needs to catch up on retirement saving, or if you don’t need the income from some of your IRA or 401(k) accounts and want to leave them for your children, here are the limits on contributions to federally qualified defined contribution retirement plans for 2022.
The overall limit on contributions to defined contributions plans in 2022 is $61,000. That’s up $3000 from 2021. For baby boomers in the workforce trying to a create a larger nest egg, DC plans are a key option for accelerating savings in federally qualified retirement accounts.
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