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Today, the IRS released IRS Revenue Procedure 2021-45 which provides the 2022 cost-of-living increases for inflation for certain items. In addition, on November 4, 2021, the IRS released Notice 2021-61 which provided the 2022 COLA increases for retirement plans, including 401(k) plans.
Please note that the IRS has not made mention of increasing the Dependent Care limit. As it stands, the limit will remain at $5,000 for 2022.
You can access our updated materials for 2022 on our Open Enrollment Resources page: https://www.ncabenefits.com/open-enrollment
Of interest to our partners are the following increases from 2021:
The HSA contribution limits were released in the spring. The limits can be found here: https://www.ncabenefits.com/news-1/irs-releases-hsa-limits-for-2022
Please contact the NCA team with any questions.
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