NJ Requires all public employers to establish Flexible Spending Accounts (FSAs)

Posted by BAS - 26 August, 2011

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Governor Christie signed Chapter 78, P.L. 2011 into law, effective June 28, 2011. This law provides for changes to the manner in which the State-administered retirement systems operate and to the benefit provisions of those systems. The law also changes the manner in which the State-administered Health Benefits Programs operate and the employee contribution and benefit provisions of those programs.

The Division of Pensions and Benefits is in the process of implementing the provisions of Chapter 78, and will post information and links to this page as they become available. Please check back, for the most recent updates.

  • Requires all public employers, including local government employers and boards of education, to establish a flexible spending arrangement (FSA) that satisfies the requirements under Section 125 of the Internal Revenue Code for reimbursement of medical and dental plan participant costs.

Note: The State's Section 125 plan, Tax$ave, is not available to local government or local education employers. These employers must arrange and provide their own Section 125 plans.

Find out more details at: http://www.state.nj.us/treasury/pensions/reform-2011.shtml

Benefit Allocation Systems, Inc. ("BAS") is ready to support NJ's public employers with FSA administration, debit cards, online enrollment and a host of other services required to run a qualified, successful FSA program. Contact Charles Bradley at (610) 992-2508 or CBradley@BASusa.com or Robin Block at (610) 992-2516 or RBlock@BASusa.com.

Topics: Healthcare FSA, MyEnroll360 Capabilities


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