Is an annual election or waiver of participation required?
Yes, according to Internal Revenue Service regulations, eligible employees (all Thompson School District employees) must complete an election or waiver form annually. 9 Q. Are there individuals who should not participate in the flexible spending account program? Yes, employees who wouldn’t want to participate include those nearing retirement (3 to 5 years out), employees who don’t have eligible expenses for these programs (no dependent day care, less than $300 in miscellaneous medical, dental and vision expenses, etc.) and those who, for a number of reasons, may want to report the highest gross salary possible (i.e., for loan purposes, disability issues, etc.).
Related Questions
- Does my participation in AACEs Annual Meeting or Section meetings count toward my required CEUs/PDHs obligations for another professional organizations recertification credit(s)?
- Does my participation in another professional organizations annual or local section/chapter meetings count toward my AACE Certification CEU credit(s)?
- Is an annual election or waiver of participation required?
