Human Resources

As we approach the final payrolls of the year, take a few minutes to review your pre-tax accounts and retirement contributions. A little time spent now can help you maximize your benefits and avoid losing unused funds.

1. Flexible Spending Account (FSA) Balances

• What to do: Check your current health or dependent care FSA balance through the Flex portal.
• Keep in mind: FSAs generally follow a "use-it-or-lose-it" rule. Make sure to plan or spend remaining funds on eligible medical, dental, vision, or over-the-counter expenses before the plan year ends.  The FSA plan does include a carryover provision which allows a carryover in the amount of $680.00 from 2026 into 2027. FSA contribution limits and carryover amounts are set by the IRS from year to year. FSA participants cannot make contribution changes during the plan year.

2. Health Savings Account (HSA) Limits

• What to do: Verify your cumulative year-to-date HSA contributions against the IRS limits for 2026:
  • Self-only coverage: $4,400
  • Family coverage: $8,750
  • Catch-up contribution (Ages 55+): +$1,000
• Keep in mind: Unlike FSAs, HSA funds roll over year-to-year, but making sure you hit your target contribution before the final payroll lets you capture full tax savings. Lake Forest College contributes as follows to the HSA: $700 annual for individual; $1,100 annually for spouse or child, and $1,400 annually for family. For new hires/new plan participants, employer annual HSA contributions are pro-rated. (Note: The IRS limits are inclusive of both your contributions and any employer contributions.)
• Login through  the Flex portal to check year to date balances.

3. 403(b) Retirement Contributions

• What to do: Check your year-to-date elective deferrals in the ADP  payroll system to see if you want to adjust your last few paychecks. Check your 403(b) account balances via the TIAA portal.
• 2026 IRS Limits:
  • Standard elective deferral limit: $24,500
  • Catch-up contribution (Ages 50–59 & 64+): +$8,000 (Total: $32,500)
  • Special catch-up (Ages 60–63): +$11,250 (Total: $35,750) 
• Keep in mind: If you want to change your contribution percentage for the remaining pay periods, please submit your update in ADP promptly!

 If you have questions about your current balances or need help adjusting your elections, reach out to HR.