Showing articles for Mary L Komornicka
Showing Results 1 - 17 of 17

  • E-Alert – City of Saint Paul Enacts Minimum Wage

    11/30/2018 / Phyllis Karasov

    Saint Paul has enacted a phased higher minimum wage ordinance which begins in 2020. The size and type of business determines when the $15 per hour minimum wage applies.

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  • IRS to Allow up to $500 Carryover in Medical Flexible Spending Accounts (FSA)

    11/07/2013 / Mary Komornicka and Bill Itskovich

    On October 31, 2013 the IRS modified the “use it or lose it” rule to allow carryover, limited to $500, of unused medical FSA funds into the next plan year. This carryover can not be used if the plan has a “grace period” that gives participants up to 2-1/2 months to spend the unused funds after the close of the plan year.  Also, The Patient Protection and Affordable Care Act implemented a $2,500 cap on employer sponsored medical FSA under §125 of the Internal Revenue Code effective in 2013. All employers are required to amend their medical FSA plans from an unlimited contribution to a maximum of $2,500 contribution per plan year by the end of the 2013 plan year. 

    Employers offering FSA plans will need to decide whether to modify their FSA plans to offer employees the carryover option or instead maintain their existing 2-1/2 month grace period and amend their plans, if necessary, prior to the end of the plan year.

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  • Worker Classification Settlement Program

    10/12/2011 / Mary L. Komornicka

    On September 21, 2011, the IRS issued a new “Voluntary Classification Settlement Program” that will allow the employer to present their situation to the IRS for a determination of the proper classification of these workers.

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  • Nondiscrimination in Health Plans

    01/12/2011 / Mary L. Komornicka

    One of the elements of the Health Care Reform was to require that employer health plans not be discriminatory in favor of the highly compensated employers. (Grandfathered plans were exempt from this requirement.) The IRS has delayed the effective date of this requirement until further guidance has been issued.

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  • Small Business Health Tax Credit

    05/13/2010 / Mary L. Komornicka

    Learn more about a new tax credit for small employers who provide insurance to their employees.

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  • Young Adults & Dependent Health Coverage

    05/13/2010 / Mary L. Komornicka

    Learn more about how recent health care legislation has affected coverage for young adults and dependents.

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  • Cobra Subsidy Extension

    05/13/2010 / Mary L. Komornicka

    Learn more about the recent COBRA subsidy extension.

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  • Health Care Reform – What Employers Need to Know Now

    04/08/2010 / Mary L. Komornicka

    Learn more about how new federal health care reform will affect employers.

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  • COBRA Subsidy Extended

    03/11/2010 / Mary L. Komornicka and Krysta M. Mitchell*

    A COBRA subsidy extension was recently signed into law, read about it here.

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  • New 401(k) Contribution Deposit Rule

    02/10/2010 / Mary L. Komornicka and Krysta Mitchell*

    Learn more about the Department of Labor's new guidelines governing employee contributions and participant loan repayment.

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  • COBRA Subsidy Extended

    01/07/2010 / Mary L. Komornicka

    The 65 percent federal subsidy of COBRA premiums for individuals who have been involuntarily terminated from employment has been extended both in length of the subsidy period and the eligibility period.

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  • Roth IRA Conversion

    01/07/2010 / Mary L. Komornicka

    In 2010, anyone with a traditional IRA, including a rollover IRA, will have the opportunity to convert that IRA into a Roth IRA regardless of income. Previously, only individuals with a modified gross income of greater than $100,000 were unable to do a Roth conversion. Effective in 2010, that restriction is removed and all individuals are able to convert an existing traditional IRA into a Roth IRA.

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  • End of the Year Retirement Plan Issues

    11/04/2009 / Mary L. Komornicka

    Every year there are some “housekeeping items” that need the attention of retirement plan sponsors and 2009 is no exception. However, this year there are some additional items beyond the standard participant communication notices that need to be addressed.

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  • Defined Benefit Funding

    11/04/2009 / Mary L. Komornicka

    The IRS has issued final regulations governing the funding requirements for single and multiple employer Defined Benefit plans that are effective for plan years beginning on or after January 1, 2010.

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  • 2010 Plan Limits

    11/04/2009 / Mary L. Komornicka

    The IRS has issued the 2010 limits for various employee benefits. The retirement plan limits have not changed, although there are some changes for health plan benefit limits.

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  • On Health Care Reform

    10/15/2009 / Mary Komornicka

    Mary Komornicka discusses three things small businesses and corporations are watching closely in the ongoing health care reform debate in Minnesota Business.

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  • Analysis of La Rue v. DeWolff: How The Supreme Court Reached Its Decision and What It Means For Plan Sponsors

    08/15/2009

    Mary Komornicka's article was selected for publication in the Journal of Pension Planning and Compliance.

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Showing Results 1 - 17 of 17