Senate Approves New Requirements for Nonqualified Deferred Compensation Plans
The Jumpstart Our Business Strength (JOBS) Act (S.1637) would impose new limits on nonqualified deferred compensation arrangements, restrict the deferral of gains from employer securities and make other changes that would affect executive compensation. House Approves Legislation to Allow FSA Rollovers
The House of Representatives approved legislation to allow up to $500 of unused money in a flexible spending account to be carried forward or rolled over into a health savings account. IRS Clarifies Interaction Among FSAs, HRAs and HSAs
In Revenue Rule 2004-45, the IRS explains when having either a health flexible spending
account or a health reimbursement arrangement disqualifies an individual from making tax-free contributions to a health savings account. Pension Plan Funding Regains Some Lost Ground
Despite significant increases in plan liabilities, the average funded status of pension plans sponsored by Fortune 1000 companies rose from 82 percent in 2002 to 88 percent in 2003, according to their annual reports. House Subcommittee Approves Bill to Delay Stock Option Accounting Change
On May 12, the House Financial Services Committee subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises approved legislation to delay the Financial Accounting Standards Board’s proposal to require companies to expense stock options. U.S. Workers Say Performance Management Doesn’t Make the Grade
According to WorkUSA® 2004, a survey of the attitudes and opinions of U.S. workers, most employees do not believe their company’s performance management program actually
improves performance.
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