Election 2004: What's Ahead for Health Care and Retirement Issues?
Election Day is approaching, and President Bush and Senator Kerry are entering the final stages
of their presidential campaigns. Health care reform has been a popular campaign topic. Both
candidates have plans for increasing access to health care coverage, controlling prescription
drug costs, improving health information technology and otherwise reforming the U.S. health
care system. Cash Balance Court Ruling Leaves Ambiguity in Its Wake
The Sixth Circuit Court of Appeals has overturned the district court's ruling in Crosby v. Bowater.
In that case, the district court had ruled that, in a cash balance plan where accrued benefits are
payable as a death benefit, a pre-retirement mortality discount should not be figured into the
lump sum payment amount. FASB Works Toward Finalizing Exposure Draft
On March 31, 2004, the Financial Accounting Standards Board (FASB) released Share-Based
Payment, its exposure draft (ED) on share-based payment transactions, which would require
companies to expense their stock options. Defined Benefit vs. 401(k): The Returns for 2000-2002
Managing investment returns in a volatile stock market is always challenging. How do rates of return differ between professionally managed and participant-managed funds? Senator Urges Treasury Department to Repeal FSA Use-It-or-Lose-It Rule
The move to repeal the use-it-or-lose-it rule for health care flexible spending accounts (FSAs)
has shifted its focus from Capitol Hill to the U.S. Department of the Treasury. In August, Senate
Finance Committee chair Charles Grassley (R-Iowa) wrote a letter urging Treasury Secretary
John Snow to repeal the use-it-or-lose-it rule administratively. IRS Proposes New Determination Letter Procedure
The vast majority of qualified plan sponsors seek IRS confirmation of their plan’s tax-qualified status. Plans Must Soon Comply With Automatic Default Rollover Rule
The U.S. Department of Labor (DOL) has released final safe harbor regulations for automatic rollovers of mandatory distributions to IRAs.
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