Overview

See What’s New for 2022

You take great pride in your work to deliver results for our advisors and their clients, and as one team on one mission, we are just as committed to supporting your total wellbeing—including your physical, emotional, and financial health. That is why at LPL, we provide a comprehensive and competitive Total Rewards package of compensation, rewards and recognition, and benefit programs, suited to address your and your family's unique wellbeing needs.

We review our benefits programs regularly—and compare them to competitive practice—to ensure your benefits package is cost-effective, offers benefits that are meaningful, gives you the power of choice, and enables you to take control of your health and healthcare costs.

Review the information on this site to learn about your benefits, access available resources, and check out what's changing below.

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2022 Changes

Here’s a preview of important information for 2022. Be sure to watch the 2022 Open Enrollment Presentation for additional details.

Benefit What’s changing
Health Savings Account (HSA) Contribution Limits

The amount you may contribute to your Health Savings Account (HSA) is increasing for 2022:

  • $3,150 for employee-only coverage
  • $6,300 for employee + dependent(s) coverage

LPL will also contribute to your HSA:

  • $500 ($19.23 per paycheck ) for Employee-only coverage
  • $1,000 ($38.46 per paycheck) for Employee + "any" coverage
Flexible Spending Account (FSA) Roll Over

Unused funds in your FSA accounts do not always roll over year to year, so carefully consider your anticipated expenses for 2022.

If you have remaining FSA funds at the end of 2021, you can roll over all unused Healthcare (HC), Limited Purpose (LP) and/or Dependent Care (DC) FSA funds into 2022. Remember, you must actively re-enroll in the FSA each year during Open Enrollment in order to continue making contributions or use roll-over funds.

The amount you may roll over into 2023 is expected to return to pre-pandemic levels: $550 for HC and LP FSAs only. (The pandemic-related relief that allows DC FSA funds to roll over into 2022 is ending.)

Benefit Premiums and Cost-Sharing at LPL To ensure we can support all of our employees while keeping healthcare affordable and equitable, a fourth salary band for medical premiums is being added for employees earning $200,000 or more per year (including commissions, but not overtime or bonuses).

For the 2022 plan year, there will be nominal medical premium increases across all salary bands. The amount you pay for medical coverage will depend on the plan option you choose and your annual benefits salary (includes commissions but not overtime or bonuses) as of October 1, 2021 (or your hire date, if later).

Review your 2022 rates during your benefit counseling session with ALEX or in ADP My Pay and Benefits*.

We view affordable healthcare as a shared responsibility, so LPL Financial will continue to pay an average of 80% of the total cost for the medical plans, as well as cover the following costs: 100% of the Basic Life and AD&D; Basic Short- and Long-Term Disability coverage; and the majority of the basic Dental and Vision coverage options. Be sure to review your Total Compensation Statement in Workday for more details on the LPL-paid benefits.    
Life and AD&D Insurance Effective January 1, 2022, LPL will provide Basic Life and AD&D Insurance coverage in the amount equal to 1.5x your annual earnings (including commissions but not bonuses), up to a maximum benefit of $500,000. This coverage remains fully paid by the company and is provided automatically; you do not need to enroll.

During Open Enrollment, you will have a special one-time opportunity to purchase or increase your voluntary supplemental life insurance amount. You can increase your coverage up to $200,000 for yourself and up to $50,000 for your spouse or domestic partner without providing Evidence of Insurability (EOI), as long as you have not been previously denied coverage by Lincoln Financial Group. If coverage was previously denied or if you would like to purchase more than these amounts, EOI is required.

If you are interested in buying supplemental life and AD&D coverage, for which you cover the full cost, click here to learn more.
Aetna Health Fund (HSA) PPO Teladoc General Medical Teladoc consults (for concerns like cold and flu symptoms, sinus infection, allergies, etc.) for those enrolled in the Aetna Health Fund (HSA) PPO will increase from $47 to $49.

Note, this only impacts General Medical consults for the Health Fund (HSA) PPO plan. The copays for all other Teladoc consults will remain the same across all plan options.
Buy-Up Long-Term Disability There will be an increase to the buy-up long-term disability rates in 2022. If you are currently enrolled or choose to enroll in buy-up long-term disability, you can view your coverage amount and rate in ADP My Pay and Benefits* when reviewing or electing your 2022 benefits.
Tuition Assistance Plan (TAP)The Tuition Assistance Plan benefit will increase from $2,000 to $5,250, which is the IRS pre-tax limit for pre-tax employer contributions.
Paid Parental Benefits

Beginning in 2022, new mothers will receive full (vs. partial) pay during the first 6 weeks of their maternity-disability following delivery. Additionally, all new parents will be eligible for up to 6-weeks of fully-paid (vs. partially paid) parental leave for bonding with their new child.

Note: Eligibility for paid parental leave for new mothers who have given birth begins after maternity-disability ends, for a total of 12-weeks fully-paid maternity leave (6 weeks disability + 6 weeks bonding).

Retirement PlanA new post-tax option (in addition to Roth) will be added to the LPL Retirement Plan through Empower. More details will be available later this year prior to the option being launched.

* To access ADP, use the single sign-on (SSO) link from the My Apps/Systems section on the Home page of LPL@Work.

Other Benefit Options for 2022

You'll also continue to have access to following benefit options and programs, which will not be changing for 2022: