IRS Limits

The IRS puts limits on how much can be saved to employer-sponsored 401(k) plans.

The 2023 limits are as follows:

  • Your pre-tax and Roth 401(k) contributions: $22,500
  • Catch-up contributions (if age 50 or older in 2023): $7,500
  • Total annual contributions (from Rockwell and you): $66,000 (or $73,500 if 50 or older)
  • Maximum eligible compensation (maximum amount of compensation eligible for contributions to the plan): $330,000.