Skip to main content

You are here

Advertisement

IRS Issues Tables of Covered Compensation for 2023

Government Affairs

The IRS on Dec. 8 issued tables of covered compensation under Internal Revenue Code Section 401(l)(5)(E) and the Income Tax Regulations thereunder for the 2023 plan year. The tables are contained in Revenue Ruling (Rev. Rul.) 2022-24. 

The covered compensation tables for 2023 provide:

  • Data based on calendar years of birth beginning in 1907 and the calendar year at which individuals reach the Social Security retirement age. 
  • Rounded covered compensation for 2023 based on calendar year of birth. 

For purposes of determining covered compensation for the 2023 year, the taxable wage base is $160,200. 

The covered compensation tables are effective Jan. 1, 2023.

Rev. Rul. 2022-24 will be published in Internal Revenue Bulletin 2022-51 on Dec. 19, 2022.