HR & Compliance

  • Health FSA Limit Will Increase for 2015 by

    Posted on: November 10, 2014Categories: HR & Compliance

    The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to a health flexible spending account (FSA) offered under a cafeteria plan. This limit first became effective for plan years beginning on or after Jan. 1, 2013. The ACA set the health FSA contribution limit at $2,500. For years after 2013, the dollar limit is indexed for cost-of-living adjustments. 2014: For taxable years beginning in 2014, the dollar limit on employee salary reduction contribu ...

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  • Online Enrollment in Federal SHOP Exchanges Available in 2015 by

    Posted on: November 6, 2014Categories: HR & Compliance

    Beginning in 2014, the Affordable Care Act (ACA) established the Small Business Health Options Program (SHOP) Exchange—an online competitive marketplace that small employers can use to provide health insurance options for their employees. On Oct. 8, 2014, the Department of Health and Human Services (HHS) announced that online enrollment will be available in the SHOP Exchanges operated by HHS (federally-facilitated SHOPs, or FF-SHOPs) beginning Nov. 15, 2014. As a result, for the 2015 plan yea ...

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  • 2015 Indexed Figures for Qualified Retirement Plans by

    Posted on: November 4, 2014Categories: HR & Compliance

    Qualified Retirement Plans must take various dollar limits into consideration. Some of these are indexed and can therefore change on occasion. The IRS has announced benefit plan limits for 2015. Below are the figures for 2015 along with the previous 2014 limits for comparison.   LIMITS 2015 2014 401(k) Plan Elective Deferral Limit (Calendar Year) $18,000 $17,500 401(k) Plan Catch-up Contribution Limits $6,000 $5,500 Maximum Annual Contribution Limits (Money Purchase, Profit Shari ...

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