What the new 401(k), FSA contribution limits for 2022 mean for HR

This is a preview. View original post on this site

HR leaders have some positive benefits news to share with employees in the midst of open enrollment: Workers can sock away more money into their 401(k)s and their health FSAs next year.

Advertisementgoogletag.cmd.push(function(){googletag.display(“div-gpt-ad-inline1”);});

The employee contribution limit for 401(k) plans is increasing to $20,500 in 2022, up from $19,500 in 2020 and 2021, according to the IRS. Catch-up deposits for savers 50 and older will remain at $6,500, the IRS announced. The new amounts also apply to 403(b), most 457 and Thrift Savings Plans. The IRA limit for 2022 remains unchanged at $6,000 and hasn’t increased since 2019.

And for 2022, the dollar

Read Complete Article

,

Subscribe to Recruiting Headlines

* indicates required


RECRUITMENT MARKETPLACE


»Need an ATS? Try JazzHR


»Free Rejection Email Templates


»Text Recruiting Software


»RecTech Live Webcasts


»HR Podcast Directory


»Recruiting Newsletters


»HR Tech News


»Freelance HR Jobs


»Diversity Hiring News


»Recruiter Ebooks