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Under SECURE 2.0, effective as of January 1, 2023, any participant that was not previously subject to RMDs who has attained age 73 and is terminated or is considered a 5% owner is required to take a minimum distribution each year. A 5% owner is defi...
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An annual fee called the Patient Centered Outcome Research Institute (PCORI) Fee applies to most HRA plans. This fee is filed and paid for via IRS Form 720 and is due each year by July 31. Health insurers are responsible for paying the PCORI fee for...
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General HSA frequently asked questions.
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In order to make plan sponsors and participants more aware of the fees, expenses, and investments in their plans, the Department of Labor issued regulations regarding these issues. We have posted a number of relevant items here to help you understan...
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To view a specific participant transaction, please follow these steps: Log in to the employer portal from sentinelgroup.com and select "Retirement" from the home page of the portal . From the Plan Sponsor Dashboard, select Transactions the...
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Last Updated: 10/17/2018
in COBRA General Information
COBRA laws require employers to offer a COBRA election to qualified beneficiaries when there is: (1) a triggering event; and (2) the triggering event causes (or will cause) a loss in plan coverage that occurs within the maximum coverage period for ...
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Why are hours and compensation needed on a per pay period basis? The compensation and hours information is important for recordkeeping purposes for vesting, distributions, compliance testing and determining eligibility. Current Hours: Current...
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Overview of HSA-compatible Limited Purpose FSA.
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On Wednesday, April 29, the Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, and Department of the Treasury (the “Agencies”) released a final rule (“final rule,” or “rule”) which altered and extended the time...
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At the beginning of each plan year, employees make their benefit elections stating whether they will participate in the account and how much pre-tax salary they agree to contribute. Benefit elections may be changed based on your plan document duri...