Flexible Savings Account Rules
The IRS on Oct. 31 issued modifications to Section 125, or so-called cafeteria plans, relaxing use-it-or-lose it regulations for employer-sponsored Flexible Spending Arrangements (FSAs). Under the changes, FSAs may be amended to permit participants to carry over up to $500 of unused amounts to the following cafeteria plan year. An “unused amount” is the amount […]