McNees’ Benefits Group will be issuing a “Did you know?” series throughout the year providing short compliance reminders. This is the first in the series.
Did you know that if you withhold premium payments pre-tax from employee wages, you must have a cafeteria plan (also called 125 plan)? If you do not have a cafeteria plan, then your employees owe taxes on the premiums withheld.
For more information regarding cafeteria plans, contact any member of the McNees Labor and Employment Group.