Login Register Subscribe
Current Issue


BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

FSA rollover to retirement plan proposal introduced


Employees would be allowed to transfer unused amounts of up to $250 a year from their flexible spending accounts to retirement plans, such as 401(k) plans, under legislation introduced in the House of Representatives last week.

Under the measure, H.R. 4067, introduced by Rep. Ron Kind, D-Wis., employees could shift unused FSA funds — $250 or the account balance, whichever is less — to a retirement plan.

Under 2013 IRS regulations, employees can, if their employers offer such a feature, automatically carry over up to $500 in their FSA accounts to the next year to pay medical expenses.

That approach is an alternative to one the IRS authorized in 2005. Under that so-called “grace period” approach, FSA participants can roll over their full unused balance remaining at the end of a plan year. However, the balance must be used by the end of the first 2 1/2 months of the following plan year or be forfeited.