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August 24, 2001 - 6,189 subscribers
Today's sponsor: Search401k
(Click on company name or banner to learn more.)
(Help us to provide this newsletter at no charge to you -- our sponsors pay our way. Remember to visit them periodically; we try to make sure their products and services will be of interest to you. Thanks! --Editor)
Washington State Insurers May Be Forced to Cover Most Forms of Birth Control
Excerpt: "Beginning next month, insurance companies [doing business in Washington state] will be required to provide coverage for most forms of birth control under a proposed rule a state regulator said Wednesday is all but complete." (Knight Ridder via IFEBP)
More on the 2001 Tax Act Child Tax Credit Provisions
(Relevance: affects whether an employee should use cafeteria plan reimbursements for child care or pay them directly in order to use the tax credit.) Excerpt: "Under current law, taxpayers with qualifying children under age 17 are entitled to a child tax credit of $500 per child [IRC Sec. 24(a)].... Effective for tax years after 2000, the Economic Growth and Tax Relief Reconciliation Act of 2001 (the Act) increases the child tax credit to $1,000, phased in over ten years, as follows: ..." (Practitioners Publishing Company)
Employers' Aircraft Deductions Not Limited To Amounts Reported By Employees (PDF)
Page 6 of Andersen's Compensation and Benefits Alert (August 20, 2001). Excerpt: "In two separate cases, the Tax Court has held that an employer's deductions for operating an aircraft are not limited by the amount of income reported by employees for the personal use of the aircraft." (Andersen)
Vacation Cash Out Option Ruled Not To Trigger Constructive Receipt (PDF)
Page 3 of Andersen's Compensation and Benefits Alert (August 20, 2001). Excerpt: "IRS has ruled that the right of an employee to make an election to receive cash in lieu of vacation in the year before the vacation is earned does not trigger the constructive receipt doctrine." (Andersen)
Analysis: House Passes Patients' Bill of Rights (PDF)
Excerpt: "The House bill is the same as, or very similar to, the Senate bill in the following areas: ... However, the most notable differences between the bills are their provisions for lawsuits and features in the House bill aimed at making health coverage more affordable." (The Segal Company)
Analysis: Promise to Protect Social Security is Sorely Tested
Excerpt: "Republicans and Democrats have agreed [for many years] not to touch the portion of the federal budget surplus coming from the Social Security system.... Now, with the surplus outside of Social Security gobbled up by the combination of President Bush's tax cut and the ailing economy-- and with Democrats and Republicans continuing to pursue expensive and clashing agendas-- their resolve is about to be tested." (New York Times; free registration required)
(Following items are in both editions of the BenefitsLink Newsletter)
ABA Joint Committee on Employee Benefits Publishes Q&As with IRS Officials
Excerpt: "The following questions and answers are based on informal discussions between private sector representatives of the JCEB and Treasury Department and IRS officials. The questions were submitted by ABA members, and the responses were given at a meeting of JCEB and government representatives. The responses reflect the unofficial, individual views of the government participants as of the time of the discussion, and do not necessarily represent agency policy." (American Bar Association, Joint Committee on Employee Benefits)
ABA Joint Committee on Employee Benefits Publishes Q&As with EEOC Officials
Excerpt: "The following questions and answers are based on informal discussions between private sector representatives of the JCEB and EEOC staff members. The questions were submitted by ABA members, and the responses were given at a meeting of JCEB and government representatives. The responses reflect the unofficial, individual views of the government participants as of the time of the discussion, and do not necessarily represent agency policy." (American Bar Association, Joint Committee on Employee Benefits)
ABA Joint Committee on Employee Benefits Publishes Q&As with DOL Officials
Excerpt: "The following questions and answers are based on informal discussions between private sector representatives of the JCEB and Department of Labor officials. The questions were submitted by ABA members and the responses were given at a May 9, 2001 meeting of JCEB and government representatives. The responses reflect the unofficial, individual views of the government participants as of the time of the discussions, and do not necessarily represent agency policy." (American Bar Association, Joint Committee on Employee Benefits)
ABA Joint Committee on Employee Benefits Publishes Q&As with SEC Officials
Excerpt: "The following questions and answers are based on informal discussions between private sector representatives of the JCEB and SEC staff members. The questions were submitted by ABA members and the responses were given at a meeting of JCEB and government representatives. The responses reflect the unofficial, individual views of the government representatives as of the time of the discussion, and do not necessarily represent the position of the agency." (American Bar Association, Joint Committee on Employee Benefits)
Stanford Study Says Stock Options Work as Employee Lures, Not Incentives
Excerpt: "Stock options, like residue from the dot-com economy, have become commonplace additions to compensation packages. Yet, a study from the Stanford Graduate School of Business shows that stock options are lousy incentive mechanisms for motivating rank-and-file employees at the largest companies to work hard." (Stanford Business via SmartPros)
Newly Posted or Renewed Job Openings ( Post Yours! )
Newly Posted Press Releases
Copyright 2001 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.
Jobs | Today's Messages | Topical News | Q&A Columns | Services & Products | Search | Reference
The BenefitsLink Newsletter -
Welfare Plans Edition
Welfare Plans Edition
August 24, 2001 - 6,189 subscribers
Today's sponsor: Search401k
(Click on company name or banner to learn more.)
Half the time - twice the results? If you've got a prospect or a client, we can show you how! Search401k guides you through customized product expense and return comparisons online and in minutes. Research information and request proposals from more than 80 of the leading retirement plan products, and check out the Search401k Rating for more information about product service! See how easy the 401(k) search and selection process can be!
(Help us to provide this newsletter at no charge to you -- our sponsors pay our way. Remember to visit them periodically; we try to make sure their products and services will be of interest to you. Thanks! --Editor)
Washington State Insurers May Be Forced to Cover Most Forms of Birth Control
Excerpt: "Beginning next month, insurance companies [doing business in Washington state] will be required to provide coverage for most forms of birth control under a proposed rule a state regulator said Wednesday is all but complete." (Knight Ridder via IFEBP)
More on the 2001 Tax Act Child Tax Credit Provisions
(Relevance: affects whether an employee should use cafeteria plan reimbursements for child care or pay them directly in order to use the tax credit.) Excerpt: "Under current law, taxpayers with qualifying children under age 17 are entitled to a child tax credit of $500 per child [IRC Sec. 24(a)].... Effective for tax years after 2000, the Economic Growth and Tax Relief Reconciliation Act of 2001 (the Act) increases the child tax credit to $1,000, phased in over ten years, as follows: ..." (Practitioners Publishing Company)
Employers' Aircraft Deductions Not Limited To Amounts Reported By Employees (PDF)
Page 6 of Andersen's Compensation and Benefits Alert (August 20, 2001). Excerpt: "In two separate cases, the Tax Court has held that an employer's deductions for operating an aircraft are not limited by the amount of income reported by employees for the personal use of the aircraft." (Andersen)
Vacation Cash Out Option Ruled Not To Trigger Constructive Receipt (PDF)
Page 3 of Andersen's Compensation and Benefits Alert (August 20, 2001). Excerpt: "IRS has ruled that the right of an employee to make an election to receive cash in lieu of vacation in the year before the vacation is earned does not trigger the constructive receipt doctrine." (Andersen)
Analysis: House Passes Patients' Bill of Rights (PDF)
Excerpt: "The House bill is the same as, or very similar to, the Senate bill in the following areas: ... However, the most notable differences between the bills are their provisions for lawsuits and features in the House bill aimed at making health coverage more affordable." (The Segal Company)
Analysis: Promise to Protect Social Security is Sorely Tested
Excerpt: "Republicans and Democrats have agreed [for many years] not to touch the portion of the federal budget surplus coming from the Social Security system.... Now, with the surplus outside of Social Security gobbled up by the combination of President Bush's tax cut and the ailing economy-- and with Democrats and Republicans continuing to pursue expensive and clashing agendas-- their resolve is about to be tested." (New York Times; free registration required)
ABA Joint Committee on Employee Benefits Publishes Q&As with IRS Officials
Excerpt: "The following questions and answers are based on informal discussions between private sector representatives of the JCEB and Treasury Department and IRS officials. The questions were submitted by ABA members, and the responses were given at a meeting of JCEB and government representatives. The responses reflect the unofficial, individual views of the government participants as of the time of the discussion, and do not necessarily represent agency policy." (American Bar Association, Joint Committee on Employee Benefits)
ABA Joint Committee on Employee Benefits Publishes Q&As with EEOC Officials
Excerpt: "The following questions and answers are based on informal discussions between private sector representatives of the JCEB and EEOC staff members. The questions were submitted by ABA members, and the responses were given at a meeting of JCEB and government representatives. The responses reflect the unofficial, individual views of the government participants as of the time of the discussion, and do not necessarily represent agency policy." (American Bar Association, Joint Committee on Employee Benefits)
ABA Joint Committee on Employee Benefits Publishes Q&As with DOL Officials
Excerpt: "The following questions and answers are based on informal discussions between private sector representatives of the JCEB and Department of Labor officials. The questions were submitted by ABA members and the responses were given at a May 9, 2001 meeting of JCEB and government representatives. The responses reflect the unofficial, individual views of the government participants as of the time of the discussions, and do not necessarily represent agency policy." (American Bar Association, Joint Committee on Employee Benefits)
ABA Joint Committee on Employee Benefits Publishes Q&As with SEC Officials
Excerpt: "The following questions and answers are based on informal discussions between private sector representatives of the JCEB and SEC staff members. The questions were submitted by ABA members and the responses were given at a meeting of JCEB and government representatives. The responses reflect the unofficial, individual views of the government representatives as of the time of the discussion, and do not necessarily represent the position of the agency." (American Bar Association, Joint Committee on Employee Benefits)
Stanford Study Says Stock Options Work as Employee Lures, Not Incentives
Excerpt: "Stock options, like residue from the dot-com economy, have become commonplace additions to compensation packages. Yet, a study from the Stanford Graduate School of Business shows that stock options are lousy incentive mechanisms for motivating rank-and-file employees at the largest companies to work hard." (Stanford Business via SmartPros)
Newly Posted or Renewed Job Openings ( Post Yours! )
for Pension Administration
in CA
in CA
for Constantin Control Associates
in NJ, NY
in NJ, NY
for Dallas TPA Firm
in TX
in TX
for Crosby Heafey
in CA
in CA
Newly Posted Press Releases
MyBenefitSource Names David Fiacco as President
(MyBenefitSource)
Subscribe to the Retirement Plans Edition, too (click)
Copyright 2001 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.
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