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GRS Publishes Research Alert on the Maximum Deferral and Threshold Limits for 2022 and 2023
On November 2, 2022, GRS released its Research Alert, Maximum Deferral and Threshold Limits for 2022 and 2023. This publication summarizes the Internal Revenue Service’s (IRS) new maximum deferral and threshold limits effective for limitation years beginning on or after January 1, 2023. The Internal Revenue Code (IRC) establishes a number of limits on retirement plan benefits and contributions. The limits are located in various sections of the Code and often apply in different ways to private and public-sector plans. Generally, plans must comply with the limits to maintain their tax-qualified status.
This GRS Research Alert is available here.