Ensure your retirement contributions stay up-to-date

Take advantage of recent contribution limit increases to several retirement account types.

The IRS recently announced updated retirement plan contribution limits, effective 2022. It’s a great time to review your retirement accounts and consider adjusting your contributions to be sure you are taking advantage of the increased contribution limits. To see the changes made by the IRS for 2022, review the information below.

For additional information regarding compensation limits, key employee limitations and phase-outs for deductibility, please visit the Internal Revenue Service website.

The views expressed in the article are those of the author and/or person interviewed and do not necessarily reflect the views of Silicon Valley Bank, a division of First-Citizens Bank and First Citizens BancShares, Inc. The materials on this website are for informational purposes only, are subject to change and do not take into account your particular investment objective, financial situation or need. Since each client’s situation is unique, you should consult your financial advisor and/or tax planning professional before acting on any information provided herein.