2022 Employee Benefit Plan Limits Announced by IRS

The IRS has launched the 2022 cost-of-living changes for limits on worker advantages with some changes to the 2022 charges together with minor will increase to the utmost contributions allowed beneath Code Part 415 for outlined contribution plans (e.g. 401(ok)), most compensation utilized in figuring out advantages, and the taxable wage base. Beneath is an up to date chart on the 2022 limits.

Limits for 2022 – Certified Plans

Limitation

2022

2021

Change?

Elective Deferrals (401(ok) and 403(b)) Pre-Tax Contributions; 457(b), 402(g)(3))

$20,500

$19,500

Sure

Catch-Up Contributions – 401(ok), 403(b), 457(b), SARSEP Plans

$6,500

$6,500

No

Extremely Compensated Employee (HCE) – 414(q)

$135,000

$130,000

Sure

Annual Compensation Restrict – 401(a)(17), 404(l), 408(ok)(3)(C), 408(ok)(6)(D)(ii)

$305,000

$290,000

Sure

Key Employee – 416(i)(1)(A)(i), Prime-Heavy and 409A Specified Employee

$200,000

$185,000

Sure

Outlined Contribution Plan – Complete Annual Contributions – 415(c)

$61,000

$58,000

Sure

Outlined Benefit Plan – Most Benefit – 415(b)

$245,000

$230,000

Sure

ESOP – Figuring out the Size of the Common 5-Yr Distribution Interval

 

$245,000

$230,000

Sure

ESOP – Most Account Steadiness topic to 5-Yr Distribution Interval

 

$1,230,000

$1,165,000

Sure

 

Limits for 2022 – Tax Withholding Charges

Limitation

2022

2021

Change?

Taxable Wage Base

$147,000

$142,800

Sure

 

Limits for 2022 – Excessive Deductible Plans, Well being Financial savings Account and FSAs

Limitation

2022

2021

Change?

Excessive Deductible Well being Plan – IRS Limits (Self/Household)

  • Annual Deductible – Minimal

  • Out-of-Pocket Bills (HSA) – Most

 

  • $1,400/$2,800

  • $7,050/$14,100

 

  • $1,400/$2,800

  • $7,000/$14,000

 

  • No

  • Sure

HSA Contribution Restrict (Particular person/Household)

$3,650/$7,300

$3,600/$7,200

Sure

HSA Contribution Catch-Up Restrict

$1,000

$1,000

No

Versatile Spending Account (FSA) – Well being Care – Employee Contribution

 

$2,850

$2,750

Sure

Versatile Spending Account (FSA) – Well being Care – Most Carryover

$570

$550

Sure

Versatile Spending Account (FSA) – Dependent Care – Employee Contribution

$5,000

$5,000

No

Out-of-Pocket Bills (ACA) – PHSA §2707(b) Most (in-network Important Well being Advantages for Non-Grandfathered Plans)

  • Self Solely

  • Embedded Particular person Max inside Household Protection

  • Household

 

 

  • $8,700

  • $8,700

  • $17,400

 

 

  • $8,550

  • $8,550

  • $17,100

 

 

  • Sure 

  • Sure

  • Sure

 

Limits for 2021 – Inexpensive Care Act

Limitation

2022

2021

Change?

ACA Affordability Protected-Harbor

 

9.61%

9.83%

Sure

 

Limits for 2022 – Certified Transportation Fringe Benefit

Limitation

2022

2021

Change?

Transit Cross, Van Pool

$280

$270

Sure

Certified Parking

 

$280

$270

Sure

 

Penalties for 2022 – Inexpensive Care Act

Penalty

2022

2021

Change?

No Provide of Protection

$2,750

$2,700

Sure

Provide of Protection Lacks Minimal Worth or Affordability

$4,120

$4,060

Sure

 

PBGC Premiums for Outlined Benefit Pension Plans – 2022

Premium

2022

2021

Change?

Flat Charge (Per Participant)

$88

$86

Sure

Variable Charge for $1,000 of Unfunded Vested Advantages

$48

$46

Sure

Per Participant Variable Cap

$598

$582

Sure

Co-authors: Kenneth A. Janik & Lauren Nations

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