The IRS announced that the annual contribution limit for health care flexible spending accounts (health FSAs) will increase to $2,850 for 2022 (from $2,750) and the maximum carryover amount will rise to $570 (from $550). Health FSAs The chart below shows the adjustment in health… [Read more]
IRS Issues 2022 Retirement and Pension Plan Limits
401(k) Contributions Employee 401(k) contribution maximums for 2022 will increase to $20,500—a $1,000 increase from the $19,500 cap for 2021 and 2020—the IRS announced on Nov. 4. Plan participants age 50 or older next year can contribute an additional $6,500, unchanged from 2021. The limit on total employer-plus-employee… [Read more]
OSHA Announces a New Emergency Temporary Standard on COVID Vaccination and Testing for Employers
Earlier this year, the Biden Administration issued a COVID-19 vaccine mandate for those employers that have at least 100 employees. On November 4, 2021, OSHA announced a new Emergency Temporary Standard on Vaccination and Testing. Click on the link for details. Here are four things… [Read more]