If you're trying to pump up your retirement portfolio in 2023, your employer-sponsored 401(k) plan could do the trick. You can tuck away more money in your 401(k) thanks to the inflation-adjusted contribution limits released by the IRS. And for retirement savers over 50, the contribution limits are even sweeter. 

Understanding how 401(k) contributions work could easily make your head spin if you're just getting started. We'll break down the basics so you can take advantage of your company's 401(k) before it's too late. 

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Source Fool.com