Hi All,
My company initially set up a 457b and HSA plan without catch up provisions. Now they want to tackle them. If you're not familiar with 457b, the catch up is comprised of contributions from missed participation in previous years (there's a lot more to it, but that's the gist). The HSA is a simple additional $1000 per year for 55+ participants. Are these accomplished by just additional deductions? Or does this require a second plan? And since BSI has no HSA override code, is the limit something employers just have to track manually? Thanks in advance.