Connect with us

Hi, what are you looking for?


IRS Boosts 401(k) Contribution Annual Cap to $20,500

IRS Boosts 401(k) Contribution Annual Cap to ,500

WASHINGTON—Workers will be able to set aside up to $20,500 in their 401(k) accounts in 2022, up $1,000 from this year, the Internal Revenue Service said Thursday.

The change is part of the tax code’s annual inflation adjustments and doesn’t require Congress to act. The benefits will go to the small fraction of higher-income people who are able to max out their 401(k) contributions, setting aside more than $20,000 from their current incomes.

You May Also Like


A member of Pakistan’s parliament, Sania Ashiq Jabeen was born in Lahore and raised there. She studied at the National College for Drug Administration...


SINGAPORE – For four decades, Japanese singer and actress Seiko Matsuda has built a following across Asia through a non-stop output of albums, television...


Almost every April since 1972, the Hash Bash has been held on the Diag of the University of Michigan campus, a free speech event...


Grief and joy coexist during Dia de Los Muertos, but Flo Hernandez-Ramos chooses to focus on the celebration every Nov. 2. DENVER — The...