Puerto Rico - INSIDER highlights
Three articles in particular this month may be of interest to Puerto
Rico employers.
(1) The IRS has granted an extension for plans to be amended to comply with
various changes to ERISA. As we explained in a separate letter on September
19, 2001, several of these changes in ERISA require amendments to Puerto
Rico retirement plans.
(2) The article found here
outlines proposed regulations from the IRS that would apply to Social
Security, Medicare and unemployment taxes when stock options are exercised.
If your company offers stock options to employees and/or executives, you
will want to read this article.
(3) In today's slowing economy, many companies are looking for ways to
trim their labor costs without resorting to layoffs. For some employers,
one answer is encouraging more workers to retire early. The article found
here
shows some of the incentives being offered within a pension plan and outside
of a pension plan.
Please feel free to contact us if you have any questions.
Sincerely,
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