JJ123
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Benefits for Highly compensated employees moving to post tax
JJ123 posted a topic in Cafeteria Plans
So my company failed Section 125 Nondiscrimination Testing and a decision was made to change all pre-tax benefits for Highly compensated employees to taxable income immediately ending the FSA program for 2024. Company is refunding all the contributions made to the date. If an employee already made payout on the FSA account, are they legally required to pay back? What happens if they don’t?