Clarification on 457(b) Contribution Limits

Tree
Tree Member Posts: 4 Newcomer
in Live Q/A Event

I have access to two 457(b) plans and understand that the maximum contribution limit 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!

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Answers

  • LaurenS
    LaurenS FreeTaxUSA Agent Posts: 10

    Hi Tree, thank you for your question! The $23,000 contribution limit applies per individual not per 457b plans. This means that your total contribution limit between the two plans is $23,000 not $46,000.

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