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Dec 4, 2021

It is time to NOMINATE New Board Members for OCCAPA.

Deadline for nominations: 12/4/2021 NOON

Please click on the link below and nominate “yourself” or another favorite payroll person you feel will give back to the Payroll community here in beautiful Orange County, California

Here is the link to nominate your favorite payroll person:

https://forms.office.com/Pages/ResponsePage.aspx?id=DQSIkWdsW0yxEjajBLZtrQAAAAAAAAAAAAZAAAqE60dUMERaWTVBRUNYMFFVOVk1TklNSEZZM0pDRi4u

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Dec 22, 2021

 

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What's New

Nov 07, 2021

2022 Pension COLAs -401(k), 403(b), 457(b) Pre-Tax Contribution Limit Increases to $20,500 for 2022

The IRS has announced the cost-of-living adjustments (COLAs) to the dollar limits on benefits and contributions under qualified retirement plans, as well as other items, for tax year 2022.

  • The limitation on the exclusion for elective deferrals under §402(g)(1) (e.g., §401(k) and §403(b) plans) increases to $20,500 (from $19,500).
  • The limit on annual additions to defined contribution plans under §415(c)(1)(A) increases to $61,000 (from $58,000).
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Nov 07, 2021

Social Security Wage Base Increases to $147,000 for 2022

The Social Security Administration announced that the 2022 social security wage base will be $147,000, which is an increase of $4,200 from $142,800 in 2021.

The maximum social security tax employees and employers will each pay in 2022 is $9,114, an increase of $260.40 from $8,853.60 in 2021.

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Mar 09, 2021

Biden Administration Extends Relief for Federal Student Loan Borrowers

On January 20, President Biden requested that the Secretary of Education extend COVID-19-related relief for federal student loan borrowers. The U.S. Department of Education has indicated on its Coronavirus and Forbearance Info for Students, Borrowers, and Parents website that the relief will be extended at least through September 30, 2021. Without the extension, the relief measures would have expired on January 31.

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