Edward A. Wodarczyk, Esq., ewodarczyk@tuckerlaw.com, (412) 594-3920
The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2022.
2021 | 2022 | |
Compensation Limit | $290,000 | $305,000 |
Highly Compensated Employee | $130,000 | $135,000 |
401(k), 403(b), 457(b) Deferral Limit | $ 19,500 | $ 20,500 |
Age 50 Additional Catch-Up Limit | $ 6,500 | $ 6,500 |
Defined Contribution Plan Limit | $ 58,000 | $ 61,000 |
Defined Benefit Plan Limit | $230,000 | $245,000 |
Social Security Wage Base | $142,800 | $147,000 |
HSA Individual Contribution Limit | $ 3,600 | $ 3,650 |
HSA Family Contribution Limit | $ 7,200 | $ 7,300 |
Health FSA Limit | $ 2,750 | $ 2,850 |
See the IRS website for more details regarding cost-of-living increases.
November 12, 2021
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