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Finance/Taxes

Bill Proposed to Make Employer-Paid Education Aid Tax Break Permanent

March 6, 2012
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Under Section 127 of the Internal Revenue Code, employers can reimburse employees for up to $5,250 in annual undergraduate and graduate costs without the reimbursement being included in employees' taxable income.
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Prospects for Boost in Employee Mass Transit Tax Breaks Dim

February 23, 2012
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The history of the higher mass transit tax break goes back to 2009, when lawmakers approved an economic stimulus measure that allowed employees to reduce their taxable salaries by up to $230 a month to pay for mass transit expenses.
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Workers' Comp Assessments 5 Times Higher for N.Y. State Employers: Analysis

February 23, 2012
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The average premium assessment among 32 states that impose the taxes is 4.2 percent. In contrast, New York state employers pay assessments totaling 20.2 percent of their premiums.
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PBGC Updates Estimate of Funding Relief for American Airlines

February 6, 2012
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According to the Pension Benefit Guaranty Corp., American Airlines received specific funding relief in the Pension Protection Act of 2006 and an Iraq War spending bill in 2007 that allowed airlines to spread their unfunded liability in 2008 over 10 years instead of seven.
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American Airlines Wants to Terminate Pension Plans

February 1, 2012
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The termination, if approved, would shift billions of dollars of promised but unfunded benefits to the Pension Benefit Guaranty Corp., resulting in the biggest loss ever for the agency.
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Employers Adding Automatic Enrollment to DC Plans: Aon Hewitt

January 26, 2012
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Under automatic enrollment, employees who don't respond to participation notices are enrolled automatically in a plan unless they notify their employers that they want to opt out.
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Novartis Agrees to $99M Settlement in Sales Rep Wage Dispute

January 25, 2012
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The $99 million settlement resolves the wage-and-hour claims brought in 2006, as well as additional wage-and-hour claims covering a more recent time period, according to the joint announcement by Novartis and Sanford Wittels.
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