Friday, October 21, 2011 | Kenneth A. Mason
Filed under:
Dollar Limits, 401(k) Plans, Qualified Retirement Plans
Following an October 20 announcement by the IRS and an October 19 announcement by the Social Security Administration, we now know most of the dollar amounts that employers will need to administer their benefit plans for 2012. And unlike the past two years, many of these amounts will actually be adjusted upward to account for inflation.
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Friday, October 29, 2010 | Kenneth A. Mason
Filed under:
Dollar Limits, 401(k) Plans, Qualified Retirement Plans
The IRS recently announced inflation-adjusted dollar limitations and cost-of-living adjustments applicable to qualified retirement plans in 2011. All of these limits remain unchanged from 2010. The Social Security Administration has made a similar announcement regarding Social Security premiums and benefits.
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Friday, November 20, 2009 | Kenneth A. Mason
Filed under:
Dollar Limits, Medicare, Qualified Retirement Plans
Traditionally, the IRS has announced inflation-adjusted retirement plan limits in October, based on the inflation rate during the prior twelve-month period. This time, however, the IRS announcement was that these limits would not be decreased, despite an actual rate of deflation during the prior twelve months. Accordingly, virtually all of the dollar amounts under which retirement plans have been administered during 2009 will remain the same for 2010.
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Wednesday, May 27, 2009 | Kenneth A. Mason
Filed under:
Dollar Limits, Fringe Benefits, Health Plans
Assuming a health savings account (“HSA”) is paired with a high deductible health plan (“HDHP”), an individual’s contributions to the HSA are tax-deductible. Section 223 of the Tax Code specifies a maximum annual HSA contribution, as well as both a minimum annual deductible and a maximum annual out-of-pocket amount for an HDHP. These calendar-year amounts are subject to annual inflation adjustments, based on the increase in the consumer price index (“CPI”) during the 12-month period ending on the prior March 31st.
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Wednesday, November 26, 2008 | David Stevens
Filed under:
Dollar Limits
As expected, many benefits-related limits will increase in 2009 from their 2008 levels due to inflation. The same is true for dollar amounts relevant to Social Security and Medicare benefits. We have enclosed a laminated card with a detailed listing of the changes. If you would like additional copies of the card, we will be happy to send you more.
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Thursday, October 23, 2008 | David Stevens
Filed under:
Dollar Limits
As expected, many benefits-related limits will increase in 2009 from their 2008 levels due to inflation indexing. The same is true for dollar amounts relevant to Social Security and Medicare benefits.
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Wednesday, November 01, 2006 | Kenneth A. Mason
Filed under:
Dollar Limits
As expected, many benefits-related limits will increase in 2007 from their 2006 levels due to inflation indexing. The same is true for dollar amounts relevant to Social Security and Medicare benefits. Another important development is that in 2007 Medicare Part B premiums will be income- tested for the first time.
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