On October 21, 2022, the IRS announced the 2023 retirement contribution limits to reflect the change in the headline consumer price index for regular and Catch-up contributions. Catch-up contributions are for those aged 50 or older.
| 2022 | 2023 | Increase | |
| 401k | $20,500 | $22,500 | $2,000 |
| Catch-Up | $6,500 | $7,500 | $1,000 |
| Traditional IRA | $6,000 | $6,500 | $500 |
| Roth IRA | $6,000 | $6,500 | $500 |
| Catch-Up | $1,000 | $1,000 | $0 |
| SIMPLE IRA | $14,000 | $15,500 | $1,500 |
| Catch-Up | $3,000 | $3,500 | $500 |