Lawrence Livermore National Laboratory


FLEXIBLE SPENDING ACCOUNT DEADLINES

Employees enrolled in the Health Care Reimbursement Account (HCRA) or the Dependent Care Reimbursement Account (DCRA) in 2018 must incur eligible expenses by December 31, 2018 to claim reimbursement for 2018. You have until March 31, 2019 to submit claims for reimbursement of expenses incurred during the 2018 calendar year. If a clam is not submitted by the deadline, any remaining balance for 2018 will be forfeited.

To view your account balance or to submit a claim, visit the WageWorks website. For more information concerning these deadlines call WageWorks at (888) 557-3156.

401(k) CONTRIBUTION LIMITS AND PAYROLL DEADLINES

The IRS has recently published the new 401(k) contribution limits that will be effective in 2019. The general contribution limit in 2019 for 401(k) plans will increase to $19,000 (combined for pre-tax and Roth) which is an increase of $500 from 2018. In addition, employees age 50 or older as of December 31, 2019 are able to contribute an extra $6,000 (same as 2018) by making a separate catch-up contribution election.

The maximum annual total 401(k) contribution in 2019, including all employee contributions and employer matching and service based contributions (excluding catch-up contributions) will increase to $56,000 in 2019 (an increase of $1,000 from 2018).

The employee compensation that is eligible to be considered in calculating contributions to defined contribution plans (e.g., 401(k) plans), will increase to $280,000. This compensation limit also applies to the eligible compensation that can be recognized in determining Defined Benefit Pension plan benefits.

To change your 401(k) plan contribution elections contact Fidelity at 1-800-835-5095 or www.netbenefits.com.

FINANCIAL EDUCATION WORKSHOPS

The Benefits Office has scheduled a series of workshops to provide information intended to increase your awareness of programs available to enhance your future financial security.

Upcoming Sessions:

Basic Guidance to Optimize 401(k) Plan Benefit Potential
12 p.m. to 1 p.m., Thursday, January 17th, Building 543, Grand Canyon Room 1258.
This workshop will provide a basic overview of contribution limits and available investment options to maximize your investment potential in the 401(k) plan as well as how to enroll.

Attendance is open, and no pre-registration is required. Bring your lunch and your questions.

The Basics of Social Security
12 p.m. to 1 p.m., Tuesday, January 29th, Building 543, Grand Canyon Room 1258.
This workshop will help employees better understand their options for Social Security so they can determine when and how to claim their benefit.

Attendance is open, and no pre-registration is required. Bring your lunch and your questions.


For a complete list of the 2019 financial education workshops, click here.