Prior to each plan year, employees make elections under their employer’s cafeteria plans. This includes, but is not limited to, pre-tax payroll deduction elections for funds…

The IRS has officially announced, under Revenue Procedure 2023-34, the 2024 flexible spending account (FSA) and commuter limits. FSA Limits The Health Care (standard or limited) FSA annual maximum plan contribution limit will increase from $3,050…

After evaluating the C-CPI-U for the 12 month period ending August 31, 2023, the Health Care FSA annual maximum plan contribution limit and rollover maximum limits are projected to increase for 2024.

The basics of nondiscrimination testing for cafeteria plans There’s a lot to do as the end of your plan year approaches. One thing that you don’t want to forget about is nondiscrimination testing for your…

Form 5500 is due seven months after the plan year has ended. In order to be granted an extension, the Employer/Plan Sponsor must send the IRS a Form 5558 for each ERISA plan subject to Form…

Each year, employers must wait for the IRS to update Form 720 in order to pay their PCOR fees with the correct form. The IRS has released a revision to IRS Form 720, which is used to pay the PCOR fees…

July is a busy time of year for Form 5500 filings. All plans that are subject to ERISA and meet certain participation size requirements are required to file Form 5500 seven months after the end of the plan year. For calendar year plans (and short plan years ending...

When it comes to Employee Retirement Income Security Act (ERISA) compliance, employers and benefit consultants often ask us questions about plan document and summary plan description (SPD)…

The IRS has officially announced, under Revenue Procedure 2022-38, the 2023 Flexible Spending Account (FSA) and Commuter limits. FSA Limits The Health Care (standard or limited) FSA annual maximum plan contribution limit will increase…