2022 Contribution Limit Rises to $20,500

The IRS announced on November 4 that employee 403(b) and 457(B) contributions for 2022 will top off at $20,500—a $1,000 increase from the $19,500 cap for 2021 and 2020. Plan participants age 50 or older next year can contribute an additional $6,500. This is unchanged from 2021. To make changes to your 403b, log in to your Retirement@Work account. IfContinue reading “2022 Contribution Limit Rises to $20,500”

PayFlex Systems takes over as new TexFlex administrator

On September 1, PayFlex Systems, Inc. took over as the new TexFlex flexible spending accounts (FSAs) program administrator from WageWorks. This change does not affect how much participants can contribute, eligible expenses or other program rules. Filing claims for PY21 expenses If participating employees incurred expenses before August 31, but didn’t file claims with WageContinue reading “PayFlex Systems takes over as new TexFlex administrator”