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What is Section 125 Nondiscrimination Testing? Your plan allows employees to pay for their health care and dependent care expenses on a pre‐tax basis. This saves both the employer and the employee money on Income taxes and Social Security taxes....
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Treatment of FSA accounts upon employment termination.
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Overview of identity verification requirements for HSA accounts.
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If you have received notification that an employee is requesting a distribution/withdrawal from their retirement account, the request must be approved by a authorized signer. You can be considered an authorized signer if you have received the email...
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Profit Sharing and 401(k) Plans, if elected under the plan's Adoption Agreement, may allow for withdrawals when an immediate and heavy financial needs is evident. While a Plan Administrator may offer hardship requirements other then those to be list...
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Treatment of FSA accounts during leave of absence.
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Frequently asked employer-related HSA questions.
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There is currently no annual filing requirement for Section 125 Plans. However, the underlying benefits may be required to file a Form 5500 if they are considered a Health & Welfare Plan. Group Health Insurance Coverage and Health FSAs are two examp...
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Overview of qualifying life events that will allow a mid-year election change for FSA.
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The person(s) or entity identified in the plan document as having responsibility for running the plan. It may be the employer, a committee, a company executive or someone hired for that purpose (3(16) Plan Administrator). A Plan Administrator may be...