My question involves labor and employment law for the state of: New York.
Hey everyone,
I'm an employee at a technology firm that was just acquired by a much larger technology firm. Our HR department notified us late last week by email that anyone who has money in their FSA account will lose it if they don't use it by the end of this week. The reason: we are transitioning to the buyer's benefits system and therefore are terminating the current agreement which is through Trinet. Trinet's stipulates an end of month expiration of the FSAs if the agreement is terminated.
I'm wondering how this can be legal? At the start of the year the same HR department told us that any money deposited into the FSA account will be available until the end of the year. Now they're telling us, with a 1 week notice, that the money has to be used by the end of August. Obviously I relied on the original statement and am now standing to lose a couple of thousand dollars.
I tried to talk to HR about this and they are not being helpful, telling me to go onto the FSA website and stock-up on a bunch of stuff I don't need.
It seems to me that my firm as been negligent in their handling of this issue and that they should reimburse employees for any losses. But I'm far from an expert on this and would really appreciate if anyone could point to any helpful law on this—legislation, regulation or case law.
Many thanks,
James
Hey everyone,
I'm an employee at a technology firm that was just acquired by a much larger technology firm. Our HR department notified us late last week by email that anyone who has money in their FSA account will lose it if they don't use it by the end of this week. The reason: we are transitioning to the buyer's benefits system and therefore are terminating the current agreement which is through Trinet. Trinet's stipulates an end of month expiration of the FSAs if the agreement is terminated.
I'm wondering how this can be legal? At the start of the year the same HR department told us that any money deposited into the FSA account will be available until the end of the year. Now they're telling us, with a 1 week notice, that the money has to be used by the end of August. Obviously I relied on the original statement and am now standing to lose a couple of thousand dollars.
I tried to talk to HR about this and they are not being helpful, telling me to go onto the FSA website and stock-up on a bunch of stuff I don't need.
It seems to me that my firm as been negligent in their handling of this issue and that they should reimburse employees for any losses. But I'm far from an expert on this and would really appreciate if anyone could point to any helpful law on this—legislation, regulation or case law.
Many thanks,
James
Job Benefits Fsa Account Lost Due to Merger
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