The View from Proskauer on Developments in the World of Employee Benefits, Executive Compensation & ERISA Litigation
Last month, the Treasury Department and the IRS issued proposed regulations that provide guidance on the nondiscrimination testing rules for dependent care assistance programs (DCAPs) under Section 129 of the Internal Revenue Code (the “Code”).
In a welcome and long-awaited development, the proposed regulations clarify that, under the 55% average benefits test, only employees who…
As part of the COVID-19 relief package passed by Congress earlier this week, the federal government expands on earlier relief issued by the Internal Revenue Service (IRS) for health and dependent care flexible spending account benefits (FSAs). Under these temporary rules, plan sponsors may give their employees additional time to use their FSA account balances…
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