Cost-of-living adjustments have increased some key dollar limits for 2022. Which of the following statements is true? A. The maximum catch-up contribution for an individual over 50 to an IRA account is $2,000. B. The maximum exclusion for elective deferrals [e.g., 401(k)] remains unchanged at $19,000. C. The maximum annual addition to each participant's defined contribution account is the greater of 100% of compensation or $50,000. D. The maximum amount of annual compensation that can be taken into account for various qualified plan purposes is $305,000.

Cost-of-living adjustments have increased some key dollar limits for 2022 . Which of the following statements is true? A. The maximum catch-up contribution for an indlvidual over 50 to an IRA account is $2,000. B. The maximum exclusion for elective deferrals [e.9.401(k)] remains unchanged at $19,000. C. The maximum annual addition to each participant's defined contribution account is the greater of 100% of compensation or $50,000 D. The maximum amount of annual compensation that can be taken into account for various qualified plan purposes is $905,000