News

Regulatory Updates: FSA and HRA Extensions due to COVID-19

Posted on: 5/20/2020 11:26 AM

Reimbursement Account deadlines to file reimbursement claims for Flexible Spending Accounts and Health Reimbursement Accounts will be extended to 60 days after the COVID-19 National Emergency has been lifted. The changes apply to any plan that had a final filing date on or after 3/1/2020.… Read More

Setting Every Community Up for Retirement Enhancement (SECURE) Act

Posted on: 2/20/2020 4:21 PM

On December 20th, 2019, the Secure Act was signed into Law, a bill to help employers implement retirement plans for their employees. Please find below some of the many changes, affecting qualified retirement plans, brought about with this bill:• Increase of tax credit limit for small employer pension plan start-up costs: Existing tax credit of $500 for a plan’s start-up costs has been increased to as much as $5,000 per year for the first three years, encouraging small employers to adopt plans.… Read More

IRS Releases 2020 Cost-of-Living Adjustments

Posted on: 11/7/2019 11:19 AM

The IRS has released the 2020 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits, including limits relating to health FSAs, qualified transportation fringe benefits, qualified small employer health reimbursement arrangements (QSEHRAs), adoption assistance, DCAPs, the small business health care tax credit, the premium tax credit, and Archer MSAs… Read More