By Christopher Brown, ProSential Group on
11/26/2013 2:32 PM
On October
31st, the IRS issued Notice 2013-71 that further eroded the “use it or lose it”
rule by allowing for a carryover of up to $500 of unused FSA benefits. The
carried over funds do not count towards the new plan year’s statutory $2,500
limit.
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By Peter Marathas, ProSential Compliance on
2/21/2013
There’s been a lot of buzz lately about increased efforts by federal agencies of their plan audit activities. Our lawyers across the country have seen a substantial uptick in activity from both the Department of Labor (DOL) and the Internal Revenue Service (IRS). Informal discussions in Washington, D.C. and regional offices have confirmed what we know anecdotally to be true: the federal agencies responsible for monitoring compliance of ERISA-governed plans are stepping up their audit efforts across the country.
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By Peter Marathas, ProSential Compliance on
2/14/2013
Delaying the implementation of the Play or Pay Mandates by changing the plan year to a December 31 plan year so the plan won’t have to comply until December 31, 2014 is creative, but it won’t work.
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By Tammy Gurowski on
11/5/2012 10:26 AM
We just attended a conference in Chicago with ProSential Partners and recognize that the ACA will change the marketplace. The challenge becomes how do we continue to demonstrate value, knowledge and deliver savings to our clients? How do we help control costs, educate employees, manage risk and streamline administrative efforts?
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