As life expectancy rates are increasing, and a wealth of information is available at your fingertips, it can be difficult to know where to start when it comes to planning your future in retirement. Adding a little structure and organization to the thought process can provide your clients with clarity and direction that allows them to Read More
Trying to decide which pre-tax benefit plan is right for you and your employees? Check out the chart below for a comparison of features and benefits.
When it comes to saving, we all know its’ importance. Wisely investing throughout our career can afford us a retirement with little financial worry. With defined contribution plans, employee’s benefits during retirement depend on the contributions made and the investment performance of the assets in his or her accounts. As an employer, are you providing Read More
There’s welcome news for workers concerned about losing unused money in their flexible spending account at the end of the year. The US Treasury Department has relaxed the rule on flexible spending accounts (FSAs) allowing participants to carry over $500 in unused funds starting in 2014. The rule ends a 30 year old policy where Read More
Starting April 1, 2013 the Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires that consumers have two methods of accessing their accounts when using a debit card. As a result, PIN capability is being added to the Sheakley FSA Debit Card. Participants will now have the option to pay with Read More
1. The IRS Notice 2012-40 answers the question: “What defines a tax year in applying the Health FSA $2,500 limit?” The notice specifically states the cafeteria plan year is the “tax year”. The notice determines that an “off calendar year” can fall into 2013 and still have an unlimited Health FSA amount. 2. The 2.5 month claim filing extension can also Read More