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  2022 2021
401(k), 403(b), 457
Annual compensation limit
$305,000 $290,000
Defined contribution limit
$61,000 $58,000
Elective deferral limit
$20,500
19,500
Catch-up contribution limit (age 50+)
$6,500
$6,500
SIMPLE Plans
Elective deferral limit
$14,000 $13,500
Catch-up contribution limit (age 50+)
$3,000
$3,000
SEP Plans
Annual compensation limit
$305,000 $290,000
Elective deferral limit
$20,500
$19,500
Minimum compensation limit
$650
$650
Catch-up contribution limit (age 50+)
$6,500
$6,500
Traditional and Roth IRAs
Annual contribution limit
$6,000
$6,000
Catch-up contribution limit (age 50+)
$1,000
$1,000
Health Savings Accounts
Annual contribution limit for family $7,300
$7,200
Annual contribution limit for individual
$3,650
$3,600
Other
Social Security taxable wage base
$147,000
$142,800
Definition limit for highly compensated employee
$135,000
$130,000
Definition limit for key employee
$200,000
$185,000
Annual benefit limit for defined benefit plans
$245,000
$230,000
ESOP 5-year distribution threshold
$1,230,000
$1,165,000
ESOP additional year threshold
$245,000
$230,000
Standard Deductions
Married/filing jointly and qualified widow(er)s
$25,900
$25,100
    Additional amount for blind or age 65+
$1,400
$1,350
Single
$12,950
$12,550
    Additional amount for blind or age 65+
$1,750
$1,700

Sources: IRS Notice 2021-61; www.ssa.gov; .IRS Rev. Proc. 2021-25; IRS Rev. Proc. 2021-45

This information has been prepared from sources believed reliable but the accuracy and completeness of the information cannot be guaranteed. This material and/or its contents are current at the time of writing and are subject to change without notice.

This content is not intended to be investment or fiduciary advice.

Hartford Funds does not provide legal or tax advice. Shareholders should consult a legal or tax professional for additional information. 

This information is provided for information purposes only.

 

MFDC011 226331

The material on this site is for informational and educational purposes only. The material should not be considered tax or legal advice and is not to be relied on as a forecast. The material is also not a recommendation or advice regarding any particular security, strategy or product. Hartford Funds does not represent that any products or strategies discussed are appropriate for any particular investor so investors should seek their own professional advice before investing. Hartford Funds does not serve as a fiduciary. Content is current as of the publication date or date indicated, and may be superseded by subsequent market and economic conditions.

Investing involves risk, including the possible loss of principal. Investors should carefully consider a fund's investment objectives, risks, charges and expenses. This and other important information is contained in the mutual fund, or ETF summary prospectus and/or prospectus, which can be obtained from a financial professional and should be read carefully before investing.

Mutual funds are distributed by Hartford Funds Distributors, LLC (HFD), Member FINRA|SIPC. ETFs are distributed by ALPS Distributors, Inc. (ALPS). Advisory services may be provided by Hartford Funds Management Company, LLC (HFMC) or its wholly owned subsidiary, Lattice Strategies LLC (Lattice). Certain funds are sub-advised by Wellington Management Company LLP and/or Schroder Investment Management North America Inc (SIMNA). Schroder Investment Management North America Ltd. (SIMNA Ltd) serves as a secondary sub-adviser to certain funds. HFMC, Lattice, Wellington Management, SIMNA, and SIMNA Ltd. are all SEC registered investment advisers. Hartford Funds refers to HFD, Lattice, and HFMC, which are not affiliated with any sub-adviser or ALPS. The funds and other products referred to on this Site may be offered and sold only to persons in the United States and its territories.

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