What Are Flexible Spending Accounts (FSAs) and FSA Administration?

With the exponentially growing number of organizations offering Flexible Spending Accounts (FSA), FSA administration has become a common topic in a number of industries. Providing a range of tax advantages for both employers and employees, these plans give options for paying medical expenses.

The IRS has released a new Notice that provides transition relief for Required Minimum Distributions (RMDs) under the SECURE 2.0 Act passed in December, 2022.

All 401(k) catch-up contributions must be Roth (after-tax), starting in 2024 for anyone earning $145,000+. That's only the beginning.