2014 Flex, COBRA and Qualified Plan Benefits Update
Nathan Carlson, 24HourFlex
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Running time: 54:40
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Nathan Carlson is the President of 24HourFlex and Retirement Planning Services, Inc. and has over 30 years of experience in the benefits administration field. He will join us on July 24th to discuss new developments in the benefits arena.
This Spring the IRS issued regulations that essentially require ALL sponsors of qualified retirement plans to recognize same-sex marriages. Among other things, these new rules affect plan distributions, plan loans, and beneficiary designations. Further, they apply to all types of plans – 401(k), 403(b), profit sharing, defined benefit, all types of plan sponsors – for profit, non-profit, religious, and governments, and are retroactively effective.
These new regulations also impact qualified beneficiaries under COBRA and their corresponding COBRA rights.
The IRS has also issued regulations, under the Affordable Care Act, that give employers for the first time the option of adding a $500 carry-over provision to their medical Flexible Spending Account. Nathan will explain the carry-over advantages and disadvantages and the impact such a feature can have on HSAs. However, whether or not a carry-over feature is added, all Flex plan documents should be amended to contain certain new wording.
The new retirement plan, Flex, and COBRA regulations require changes to processes and documents. Nathan will explain why. Join us on July 24th for this important webinar and mid-year update.
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