2023 LIMITS FOR BENEFIT PLAN

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

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