It’s Hamster Benifit Enrollment time again here at the Factory. Flexible Spending Account contribution discussions led to the following question. How much did the government rake in from FSA forfeitures for 2002?
And 2001 if available.
If I’m not mistaken, forfeitures are returned to the company. The company can use them for administrating the plan or they can distribute them equally among all employees. They don’t go to the government.
misbunny is correct. The money does not go back to the government. The program is not a financial boon for the government, on the contrary it is a significant cost. The IRS forgoes tax revenue on the monies employees contribute to dependent care and medical spending accounts.
I am always amazed at the people who don’t take advantage of these programs, especially for dependent care expenses, which are fairly predictable.
Now how’s that for a boring 500th post.
::checks to see what FileMaker Solutions Alliance forfeited in '02 and why::
::closes door quietly::