Payroll Briefs

Category: "Benefits"

IRS Issues Changes to Cafeteria Plans, FSA Claims Period and HSA Limits

In light of the COVID-19 crisis, the Internal Revenue Service (IRS) has issued new guidance pertaining to cafeteria plan changes, health flexible spending arrangements (FSAs) and health savings accounts (HSAs) in IRS Notice 2020-29 and Notice 2020-33. The new guidance provides flexibility to employees across the country as businesses continue to navigate the current health […]

The SECURE Act’s Impact on Retirement Plans

The Setting Every Community Up for Retirement Enhancement Act, better known as the SECURE Act, was signed into law at the end of December to help more Americans prepare and plan for greater financial security during their retirement years. Here are some highlights of the main provisions impact on retirement plans: Tax Credit Increased: The […]

7 Advantages to Taking Your Benefits Administration Online

Managing the process of employee benefits administration can be cumbersome, and done via paper forms, extremely overwhelming for most HR departments to handle. That is why many companies today are turning to online solutions that have workflows to reduce the paper shuffling, account for updated regulations and make the whole process more efficient and enjoyable […]

Health Reimbursement Accounts to Take on New Form

A newly issued regulation could change how employers pay for employee health care coverage. On June 13, 2019, the Department of Health and Human Services, the Internal Revenue Service, the Department of Treasury and the Department of Labor issued a new final rule intended to expand the options for health reimbursement accounts (HRAs) for which […]