Inflation adjustments out for benefit plan administration costs

view original post
(Photo: Diego M. Radzinschi/ALM Media)

Following recent announcements from both the IRS and the Social Security Administration, we now know most of the dollar amounts that employers will need in order to administer their benefit plans for 2022. The key dollar amounts for retirement plans and individual retirement accounts (IRAs) are shown on the front side of this 2022 limits card.

The reverse side of the card shows a number of dollar amounts that employers will need to know in order to administer health flexible spending accounts (FSAs), health savings accounts (HSAs), and high-deductible health plans (HDHPs), as well as health plans that are not grandfathered under the Affordable Care Act.