As this year comes to a close, we want to take a moment to reflect on some of the enhancements, products and services we delivered in 2023. Here are some highlights in P&A’s 2023 year in review. From all of us at P&A, we look forward to serving you in 2024 and wish you…
On Thursday, November 9, 2023, the IRS announced the 2024 contribution limits for reimbursement accounts. Here are the new annual limits for account holders beginning on January 1, 2024. 2024 Contribution Limits for FSAs Health FSA For 2024, the Health Flexible Spending Account annual maximum contribution will increase by $150 to $3,200…
On November 1, 2023, the IRS announced inflation adjusted amounts for 2024 retirement plans. Contribution limits to 401(k), 403(b) and 457 Plans are receiving an increase for 2024. Below is an outline of the 2024 contribution limits for retirement plans effective January 1, 2024. 2024 Contribution Limits for Retirement Plans 401(k), 403(b), 457…
Chicago River with boats and traffic from above in the morning Illinois recently enacted a law encouraging public commuter transportation to and from work. The Transportation Benefits Program Act begins January 1, 2024. Under the Illinois Commuter Benefits Ordinance, qualified employers must offer eligible employees a pre-tax commuter benefit. 2024 Illinois Commuter Benefits…
After many years located in downtown Buffalo, N.Y., P&A is relocating its headquarters! We will be moving to Williamsville, NY (a nearby suburb for those outside the Western New York area). Effective Monday, July 24th, P&A will be operating from its new location. New P&A Mailing Address The only change is our…
If your organization provides a Health Reimbursement Arrangement (HRA) or Medical Expense Reimbursement Plan (MERP), the upcoming deadline to file the 2022 PCORI fees is quickly approaching. Employers who offer either of these plans must submit the annual PCORI fee by July 31, 2023. The deadline applies to all plans that ended in 2022.…