2023 FSA account holders: File for reimbursement by June 29

The FSA plan year 2023 has closed. The IRS required that any 2023 balances remaining in your FSA account had to be spent by Mar. 15, 2024, and claims filed by Jun. 29, 2024, or the balance will be forfeited. This means that reimbursement for incurred expenses using 2023 funds must be filed by Jun. 29, 2024. This is known as the IRS "use it or lose it" rule and there are no exceptions.

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I heard that with the new FLSA changes there is a two-part implementation. The first is effective July 1, 2024 and the second is effective January 1, 2025. When will I be notified if I am affected by the January 1, 2025 change?

Our primary focus is the July 1, 2024, change. Once that change has been fully implemented, we will be working on the January 1, 2025, change. The January 1, 2025, change has been challenged in the courts. The University will continue to work to ensure we are compliant with the January 1, 2025, change but monitor the outcome of pending litigation or regulation changes and make adjustments as needed.

Is this a demotion?

No, it is not. You play a key role at Kent State University. This is not a demotion and has nothing to do with your value to the University. We value your contributions and hard work. This change is due to the updated FLSA rules and has nothing to do with your performance or contributions. Your job title and job duties will not change.

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