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Supplemental retirement account contribution limits to increase in 2023

The Internal Revenue Service’s maximum limits for supplemental retirement account contributions will increase for the 2023 calendar year. The new maximum for the calendar year 2023 is $22,500, with employees aged 50 and above eligible to contribute an additional $7,500 in “catch-up” funding. Supplemental retirement account accounts include the 401(k) PERSI Choice Plan, the 403(b), Roth 403(b) and the 457(b). The 457(b) account has its own annual limit of $22,500. All other plans are combined for $22,500 per year. 

More information on supplemental retirement plans can be found on the benefits website. To make changes to your supplemental retirement account, please contact