General Information

The Benefit Plan limits for 2023 have been published and are provided for your information.

Annual limit for 401(k) Plan Deferrals	$22,500.00
Annual limit for 401(k) Catch Up contributions	$7,500.00
Definition of "Highly" Compensated	$150,00.00
Social Security Wage Base	$160,200.00
Social Security Tax	6.2%
NAF Retiree COLA	8.5%
Medicare tax remains at 1.45% Dependent Care (for FSA) annual max deferral remains at $5,000.00 Health Care (for FSA) annual max dererral increases to $3,050.00
* There is no discrimination testing for 401(k) Plans, but discrimination testing is applicable for FSA Dependent Care and Health Care. Annual 415(c) limit for defined contribution plan is $66,000.00 HC FSA max rollover $610 HDHP out of pocket maximum self: $6,000; family $12,000 (In Netwotk) HSA maximum annual contribution self: $3,850; family $7,750 HSA catch up contribution self: $500; family $1,000