Annually, the Internal Revenue Service (IRS) and Social Security Administration release cost-of-living adjustments that apply to dollar limitations set forth in certain IRS Code Sections. The Consumer Price Index rose 0.3% and therefore merited minor increases in some indexed figures for 2017.
For a summary and charts of key 2017 figures that are of interest to employers and sponsors of benefit plans, please click here.
Thank you for your attention to this important compliance E-Alert. Please do not hesitate to reach out with any questions or concerns.