Puerto Rico - INSIDER highlights
We highlight here four articles which may be of interest to Puerto Rico employers in this month’s edition
- The article, "Pension Plan Sponsors Looking for Funding Relief from “Perfect Storm” Conditions" summarizes the effects
of recent investment market conditions, which - combined with current legislation – has left many employers with severely
under-funded defined benefit retirement plans. Many employers have had to struggle in order to make the required but
unanticipated and significantly larger contributions to comply with the minimum funding standards. By extending the relief
provisions of the Job Creation and Worker Assistance Act of 2002 for another two years, Congress might help plan sponsors
by reducing the required contributions.
- The articles, "Congress Debates Medicare Reform" and "Health Care Issues Hit Legislative Agenda" summarize several congressional initiatives, currently being discussed, affecting health care issues,
ranging from Medicare reform, drugs for seniors, genetic discrimination, generic drugs, and health savings accounts.
- Note more discussion on the payment of plan expenses in this article. Please
refer to our article “Alert” from July, 2003.
Please feel free to call us if you have any questions on the issues raised
in this month’s Insider.
Sincerely,
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