[DAS_Centralized_PERS_Services_Team] FW: Maximum amounts at year end

[TOBIASSON Shauna M * DAS]

Sharing on behalf of OSPS

Shauna Tobiasson
Senior CPERS Analyst
DAS Centralized PERS Services Team
Cell: 971-719-3173,
Connect with me on Teams<https://teams.microsoft.com/l/chat/0/0?users=shauna.m.tobiasson@das.oregon.gov>
Website: https://www.oregon.gov/das/Financial/Payroll/Pages/cpers.aspx
Pronouns: she, her, hers



From: OSPS-News <osps-news-bounces at omls.oregon.gov> On Behalf Of FLORES Fabiola * DAS via OSPS-News
Sent: Tuesday, November 19, 2024 5:13 PM
To: Announcements from OSPS to the users of the Oregon State Payroll Application via OSPS-News <osps-news at omls.oregon.gov>
Subject: OSPS E-News ~ Maximum amounts at year end

Payroll Professionals,

As we anticipate the arrival of the new year, the following are the maximum amounts that impact taxes for tax year 2025.

Oregon Savings Growth Plan:  The new limit for 2025 is $23,500, with an additional catch up for age 50+ for a total of $31,000, and a 3 year catch up totaling $47,000.

PEBB Flexible Spending Accounts: The maximum annual contribution amount for the Health Care FSA $3,300 or Dependent Care FSA $5,000 per household or $2,500 if you are married and file taxes separately.

Social Security Taxes: For 2025, $176,100 is the maximum wage that is subject to social security.

PERS: PERS has not updated their max subject wages for 2025.  Will send out communication at later date with any updates.


As a refresher, here are the 2024 maximum amounts that impact taxes for tax year 2025.

Oregon Savings Growth Plan:  The limit for 2024 is $23,000, with an additional catch up for age 50+ for a total of $30,500, and a 3 year catch up totaling $46,000

PEBB Flexible Spending Accounts: For 2024, the maximum annual contribution amount for the Health Care FSA $3,200 or Dependent Care FSA $5,000 per household or $2,500 if you are married and file taxes separately.

Social Security Taxes: For 2024, $168,600 is the maximum wage that is subject to social security.

PERS: For 2024, the maximum subject wage is $232,976

Please let me know if you have any questions.

Thank you,

Tim Lowry

[A picture containing logo  Description automatically generated]Timothy M. Lowry
Oregon Statewide Payroll Services Manager
Chief Financial Office | Office of the State Controller
971-718-4230
http://www.oregon.gov/DAS/Financial/Payroll<http://www.oregon.gov/DAS/Financial/Payroll%0d>
Pronouns: he, him, his

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