SEC Delays Effective Date for Expensing Stock Options
Last month, U.S. companies received two important — and mostly welcome —
messages from the Securities and Exchange Commission (SEC) regarding the new
stock option accounting rules under FAS Statement No. 123R. IRS Allows Grace Period for Flex Plans
Employers that provide cafeteria plans may now establish a two-and-one-half-month grace period for participant claims, under a new rule released by the IRS last month. President Bush Addresses the Projected Social Security Shortfall
On April 28, 2005, President Bush unveiled another piece of his plan for Social Security, addressing the criticism that his proposal for individual accounts ignores the projected long-term insolvency. Court Enjoins EEOC Rule Allowing Coordination of Retiree Health Benefits With Medicare
Prompted by a lawsuit filed by AARP, a federal court in Pennsylvania has prohibited
the Equal Employment Opportunity Commission (EEOC) from issuing its final rule
on coordinating retiree medical benefits with Medicare. Recent Funding and Sponsorship Trends Among the FORTUNE 1000
The last five years have been difficult ones for firms that sponsor defined benefit pension plans. Volatility in financial markets arrived at a time when many firms were facing poor business conditions. IRS Issues New Guidance on HRA Contributions and Distributions
In Revenue Ruling 2005–24, the IRS authorizes tax-free employer contributions of accumulated unused vacation and sick leave to health reimbursement arrangements
(HRAs) for retirees. Congress Hoping to Improve 401(k) "Autopilot"
With retirement security and personal savings acquiring an increased sense of urgency, Congress wants to encourage workers to save more in their 401(k)
and other employer-sponsored defined contribution plans. IRS Clarifies Application of HSA Rules for Married Couples
In Revenue Ruling 2005-25, the IRS clarifies the health savings account (HSA) eligibility
rules and contribution limits for married individuals. Supreme Court Permits Disparate Impact Claims Under ADEA
In Smith v. City of Jackson, the U.S. Supreme Court resolved a split in the circuits, ruling that the Age Discrimination in Employment Act (ADEA) permits disparate impact claims. IRAs Held Exempt From Bankruptcy
In Rousey v. Jacoway, the U.S. Supreme Court exempted IRAs from the bankruptcy estate, so that assets held in IRAs cannot be reached by creditors when an IRA owner files for bankruptcy. News in Brief
Budget Resolution Affects PBGC Premiums, President Signs Bankruptcy Reform Act, DOL Revises Voluntary Fiduciary Correction Program, PBGC Takes Over United Airlines’ Pension Plans
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