Clarification on 457(b) Contribution Limits

Tree

I have access to two 457(b) plans and understand that the maximum contribution limit for one plan is $23,000.

Could you please clarify whether this limit applies separately to each plan, allowing me to contribute a total of $46,000 across both, or if the $23,000 limit is shared between the two plans?

Thank you for your assistance!

JulieO

Hi Tree,

Thanks for the question.

The $23,000 limit applies to all accounts combined, not separately. You cannot contribute $23,000 to each.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-457b-contribution-limits

LynR

Hello! Thanks for attending our live event today.

The $23,000 contribution limit applies to all plans. Meaning total combined plan limit is 23,000. You cannot contribute $23,000 to each plan.

https://www.irs.gov/retirement-plans/how-much-salary-can-you-defer-if-youre-eligible-for-more-than-one-retirement-plan