Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
Nova 401(k) Associates
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|Time Is Running Out to Adopt Your Cafeteria Plan Amendments|
Dec. 7, 2021
"The changes permitted as a result of the Consolidated Appropriations Act and the IRS Notices required plans to be amended by the last day of the calendar year in which the amendment was effective. In other words, if you took advantage of any of the relief in 2020, including allowing a carryover into 2021, your plan must be amended no later than December 31, 2021. In addition, the changes for adding OTC drugs and menstrual supplies also have a December 31, 2021 amendment deadline."
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