Squirrel Away More Retirement Money: IRS 2023 Qualified Plan Limits Affect Nonqualified Deferred Comp

For participants in nonqualified deferred compensation (NQDC) plans, year-end is the time to decide how much of next year's salary to defer and squirrel away for the future. This decision often depends on IRS limits for qualified retirement plans. The IRS just set those for 2023.