Synopsis of articles:
The Impact of Same-Sex Marriage on Employee Benefit Plans
Connecticut joins Massachusetts in recognizing same-sex marriage and as a result, there is much discussion regarding the impact on employee benefit plans. The purpose of this article is to inform you of some of the intended, and unintended, implications that the recognition of same-sex marriage will have on employer-sponsored employee benefit plans.
Federal Economic Stimulus Programs Limit Executive Compensation
Institutions that participate in federal programs to stimulate lending activity face additional limitations on executive compensation. Recently, the IRS published several Notices and the Economic Recovery Act itself includes new limitations which have recently been clarified by additional guidance from the Department of Treasury.
Institutions that participate in federal programs to stimulate lending activity face additional limitations on executive compensation. Recently, the IRS published several Notices and the Economic Recovery Act itself includes new limitations which have recently been clarified by additional guidance from the Department of Treasury.
Tax Proposals of the New Administration
During the campaign, President-elect Obama repeatedly pledged to increase tax rates on individuals who file separately and earn more than $200,000 per year and joint filers earning more than $250,000. Recent comments by his economic transition team indicate that tax increases may be delayed until after the economy has recovered.
During the campaign, President-elect Obama repeatedly pledged to increase tax rates on individuals who file separately and earn more than $200,000 per year and joint filers earning more than $250,000. Recent comments by his economic transition team indicate that tax increases may be delayed until after the economy has recovered.
The Heroes Earning Assistance and Relief Tax Act of 2008
On June 17, 2008, U.S. President George Bush signed into law the recently passed Heroes Earnings Assistance and Relief Tax Act of 2008 (the HEART Act). The HEART Act amends primarily the Internal Revenue Code of 1986 (the Code) to provide certain benefits for military personnel and their beneficiaries, including enhanced retirement and welfare benefits.
On June 17, 2008, U.S. President George Bush signed into law the recently passed Heroes Earnings Assistance and Relief Tax Act of 2008 (the HEART Act). The HEART Act amends primarily the Internal Revenue Code of 1986 (the Code) to provide certain benefits for military personnel and their beneficiaries, including enhanced retirement and welfare benefits.
Recent Federal and State Action
The IRS has issued detailed written guidance on a range of issues relating to the high-deductible health care plans using health savings accounts. We anticipate that this additional guidance together with increased focus on health care costs and issues will stimulate the adoption of high-deductible plans by employers as a means of reducing costs and increasing the flexibility for employees. Until recently, there were just too many unresolved issues for many employers who were considering this alternative health care arrangement.
The IRS has issued detailed written guidance on a range of issues relating to the high-deductible health care plans using health savings accounts. We anticipate that this additional guidance together with increased focus on health care costs and issues will stimulate the adoption of high-deductible plans by employers as a means of reducing costs and increasing the flexibility for employees. Until recently, there were just too many unresolved issues for many employers who were considering this alternative health care arrangement.
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