Among other things, exchanges will have to provide a notice to employers that identifies by name the employees who have applied for and have been determined by exchange administrators as eligible for premium subsidies.Read More
The aggregate funding level of 422 pension plans offered by Fortune 1000 companies fell to 78 percent in 2011, down from 84 percent in 2010 and 81 percent in 2009, according to Towers Watson & Co. analysis.
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.Read More
To reduce liability growth, GM will completely freeze defined benefit plans covering salaried employees, effective Oct. 1, completing a process it began several years ago. Read More
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. Read More
In recent guidance by the departments of Labor, Health and Human Services and the Internal Revenue Service, the agencies said the requirement will not go into effect until regulations are issued.
Administration officials did not address how the coverage would be provided if the employer was self-insured. That issue is expected to be addressed in regulations to be released later.Read More
Employers, such as hospitals and universities, that are affiliated with religious organizations would have to comply with the requirement for health care plan years that begin one year later.Read More
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.Read More
The House Education and Workforce Health, Employment, Labor and Pensions subcommittee hearing comes at a time when the PBGC has a record $26 billion deficit in its insurance programs that are used to pay benefits promised by financially struggling or failed employers whose pension plans the agency has taken over.Read More