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Flex Account Ends When Employment Ends. When employment is terminated, regardless of the circumstances, you can no longer participate in the company's flexible-spending program, and money in the account cannot transfer to another employer.pending More Than You Contribute. With most flexible spending accounts, funds are available on the first day of the plan year. If you spend the entire balance and leave the company before contributing the total amount agreed, you aren't required to pay back the funds.
An employee who has accrued âcomp timeâ must be allowed to use such time within a reasonable period after requesting to do so, provided the time off does not âunduly disrupt the operations of the employer.â An employee who has agreed to receive âcomp timeâ can withdraw the agreement at any time. Within 30 days of an employeeâs request, the employer must cash out all accrued but unused âcomp time.â The employer can cash out an employeeâs accrued but unused âcomp timeâ in excess of 80 hours at any time, on 30 daysâ notice to the employee. On or before January 31 of each year, the employer must cash out any accrued but unused âcomp timeâ from the prior year.