By Michael J. Flanagan on Posted in Personnel
Under guidance published by both the Labor and Treasury Departments, beginning with the plan year, employers (including school districts) may no longer utilize stand-alone general purpose Health Reimbursement Accounts (“HRAs,” also commonly known as 105(h) plans) for current employees. An HRA will generally not be permitted unless it is integrated with a group health… Continue Reading
By Ryan M. Murphy on Posted in Personnel
The Internal Revenue Service (IRS) maintains the Employee Plans Compliance Resolution System (EPCRS) as a mechanism for sponsors of qualified retirement plans to correct plan errors and to maintain their plans’ tax-favored status. EPCRS was recently updated by the IRS and many of the updates are directed at 403(b) plans, including 403(b) plans sponsored by… Continue Reading
