Health FSA
For 2018, the dollar limitation on employee salary reduction contributions to a Health Flexible Spending Account will increase by $50 to $2,650 per plan year.
Adoption Assistance FSA
The maximum amount that may be excluded from an employee’s gross income under an employer-provided adoption assistance program for the adoption of a child will increase to $13,840 for 2018.
Qualified Small Employer Health Reimbursement ArrangementTo qualify as a qualified small employer Health Reimbursement Arrangement, the total amount of payments and reimbursements cannot exceed $5,050 for single coverage and $10,250 for family coverage.
Commuter Plan – Parking & Transit AccountThe maximum monthly contribution amount for both the Parking and Transit Accounts will increase by $5 to $260 for 2018.
Retirement PlansFor 401(k), 403(b) and most 457 plans, the 2018 elective deferral limit will increase to $18,500. The catch-up contribution limit for employees ages 50 and over who participate in 401(k), 403(b), and most 457 plans will continue at $6,000.
The limitation used in the definition of highly compensated employees under Section 414(q)(1)(B) for 2018 will remain unchanged at $120,000.
For further questions please contact your P&A Group account representative at (800) 688-2611 or visit www.padmin.com.
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