Pension Funding Equity Act Becomes Law
After months of delay, President Bush signed the Pension Funding Equity Act
into law on April 10, 2004. The act provided important funding reform for
defined benefit plan sponsors only days before the April 15 due date for plans’
quarterly contributions. Workforce Realities, Not Cost, Drive Hybrid Plan Conversions
A decade ago, employers began converting their traditional pension plans to hybrid plans, such as cash balance and pension equity plans (PEPs). Lawmakers Look at Drug Importation — Again
Amid double-digit increases in the cost of health care benefits and mounting concerns about prescription drug costs, drug importation is attracting renewed attention. IRS Issues Additional Guidance on HSAs
The IRS recently issued its second round of guidance regarding health savings accounts (HSAs), which answers employers’ most pressing questions and concerns about these new accounts. Pension Funding Debate to Involve Broad Review
Even as Congress struggled to enact temporary interest rate reform, lawmakers were setting the stage for more fundamental reform of the rules that govern defined benefit funding. Most HSAs Will Not Be Covered by ERISA
The 2003 Medicare Prescription Drug Modernization Act allows employers to establish Health Savings Accounts (HSAs) in conjunction with high-deductible health plans (HDHPs) to pay for medical expenses not covered by the HDHP. IRS Provides Helpful Information on 401(k) Automatic Enrollment
The IRS has issued a helpful general information letter on automatic compensation reduction elections (also known as “automatic enrollment,” “passive enrollment” and “negative elections”) for contributions to 401(k) plans and 403(b) plans.
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