This Benefits Alert is a forecast of the IRS limits that are mandatory for administration of employee benefits retirement program calculations starting in 2022. Our forecast calculations use the actual values of the Consumer Price Index for all Urban Consumers (CPI-U) for October 2020 through July 2021, as reported by the U.S. Bureau of Labor Statistics on August 11. For this forecast, the monthly CPI-U for both the August and September are expected to be no higher than 0.25%, or 3.0% annually.
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Benefits alert: The 2022 IRS limits for employee benefit plans are expected to increase by 5.0% to 6.5% over the 2021 limits
These year-over-year increases for tax-qualified employee benefit retirement plans are expected to be greater than those that produced the 2021 IRS limits.