Christine Hradsky No Comments

2019 Cost-of-Living Adjustment for Qualified Retirement Plans

The table below summarizes key 2019 cost-of-living adjustments (COLA) for pension plans and selected other items announced by the Internal Revenue Service. In general, annual compensation amounts and limits for elective deferrals were increased, while catch-up contribution limits remain unchanged. The Social Security Administration separately announced the taxable wage base for 2019, which is also included below. Read more

Christine Hradsky No Comments

What Can Employers Do with Forfeited Employee FSA Balances?

FSA Balances

FSA balances can be forfeited back to the employer, pending several options and rules.

When unused flexible spending account (FSA)¬†balances are forfeited back to employers under the “use-it-or-lose-it” rule, employers have several options for what they can do with the money. Here is what employers need to know after first covering some necessary background information. Read more