2022 LIMITS FOR BENEFIT PLAN

The Benefit Plan limits for 2022 have been published and are provided for your information.

Annual limit for 401(k) Plan Deferrals $20,500.00
Annual limit for 401(k) Catch Up contributions $1,100.00
Definition of "Highly" Compensated $135,00.00
Social Security Wage Base $147,000.00
Social Security Tax 6.2%
NAF Retiree COLA 5.9%

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 $2,850.00

* There is no discrimination testing for 401(k) Plans, but discrimination testing is applicable for FSA Dependent Care and Health Care.

2020 Annual 415(c) limit for defined contribution plan is $61,000.00

HC FSA max rollover $570

HDHP out of pocket maximum self: $7,050; family $14,100

HSA maximum annual contribution self: $3,650; family $7,300

HSA catch up contribution: $1,000

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