On Friday, Aug. 3, the Internal Revenue Service released long-promised proposed regulations providing guidance on Section 125 cafeteria plans. These rules--articulated in 124 pages--will affect employers who sponsor and employees who participate in cafeteria plans, as well as third-party cafeteria plan administrators. To view the text of the proposed regulations (REG-142695-05), please click here. The IRS is planning a Nov. 15 hearing on the proposed rules.
The Miller & Chevalier's Employee Benefits practice held a teleconference on Thursday, August 9, at 2 p.m. EDT to discuss the proposed regulations.
To read Miller & Chevalier's detailed alert from Monday, August 6, that analyzes the regulations, please click here.