Michelle McCarthy

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Michelle M. McCarthy is a partner in the employee benefits and executive compensation practice group and focuses her practice on issues pertaining to health and welfare benefit plans. Michelle represents employers, collectively bargained multiemployer plans, plan administrators, professional employer organizations, insurers and consultants in a wide array of industries including technology, entertainment, maritime, insurance, banking, aerospace, manufacturing, construction, fashion and hospitality, providing innovative but practical business-minded advice on matters pertaining to the design, implementation and administration of health and welfare plans. Read Michelle M. McCarthy's full bio.

IRS Announces 2023 Employee Benefit Plan Limits


By , and on Oct 21, 2022
Posted In Employee Benefits, Employment, Fiduciary and Investment Issues, Retirement Plans

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2023. The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2022...

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IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans


By , and on Oct 19, 2022
Posted In Employee Benefits, Fiduciary and Investment Issues, Health and Welfare Plans

On October 18, 2022, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain account-based health and welfare plans (see Rev. Proc. 2022-38). The maximum salary reduction limit for a health flexible spending account (Health FSA) increased to $3,050 for 2023 (from $2,850 in 2022), and the Health FSA carryover...

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