Comp and Benefits Brief

The IRS has released the 2022 cost-of-living adjustments for limits on employee benefits with some adjustments to the 2022 rates including minor increases to the maximum contributions allowed under Code Section 415 for defined contribution plans (e.g. 401(k)), maximum compensation used in determining benefits, and the taxable wage base. Below is an updated chart on the 2022 limits.

Limits for 2022 – Qualified Plans

Limits for 2022 – Tax Withholding Rates

Limits for 2022 – High Deductible Plans, Health Savings Account and FSAs

Limits for 2021 – Affordable Care Act

Limits for 2022 – Qualified Transportation Fringe Benefit

Penalties for 2022 – Affordable Care Act

PBGC Premiums for Defined Benefit Pension Plans – 2022