If I have rollover funds from a prior year, can I continue to make before-tax deductions for the current calendar year?
No. One of the disadvantages of not using up your CERA funds each year is that for the time you have funds remaining in the following year, you cannot add to your CERA account. For example, you have carryover funds for January, February, and March of the following year. This means the first month you can continue your payroll deductions for CERA is April.
Related Questions
- I have an invoice for a Prior Year Purchase order and the invoice is greater than the amount on the PO. How do I add funds to a prior year purchase order to cover the increased cost of the goods?
- If I have rollover funds from a prior year, can I continue to make before-tax deductions for the current calendar year?
- Can a school use current-year funds to satisfy prior award year changes?
