The Biggest Workplace Class Action Settlement of 2013 Gets Final Court Approval

The Biggest Workplace Class Action Settlement of 2013 Gets Final Court Approval

Well, it happened. The biggest employment discrimination class action settlement of 2013 is now in the books. On December 6, 2013, Judge Robert Gettleman of the U.S. District Court for the Northern District of Illinois gave final approval to the $160 million settlement of Plaintiffs’ class claims in McReynolds, et al. v. Merrill Lynch, Case No. 05-CV-6583 (N.D. Ill. Dec. 6, 2013). Considering the 8-year legal battle that resulted in the settlement, the approval order – all 7 sentences of it – was anti-climactic.

IRS Modifies FSA “Use or Lose” Rule to Permit Carryovers for Flexible Spending Accounts

IRS Modifies FSA “Use or Lose” Rule to Permit Carryovers for Flexible Spending Accounts

On October 31, 2013, the Internal Revenue Service issued Notice 2013-71, which modifies the “use or lose” rule for flexible spending accounts (FSAs) and permits employers to amend their section 125 “cafeteria” plans to allow employees to carry over up to $500 in unused FSA contributions to the next plan year.