Employee Benefits
JANUARY 22, 2024
Pensions and Future Planning Contrary to stereotypes, Gen Z actually places significant importance on pension benefits for future planning. In our report, pension needs ranked closely behind work-life balance in terms of importance, with an average score of 7.52. out of 10 in the findings from our exclusive report.
Employee Benefits
MARCH 4, 2024
Credit: Natata/Shutterstock Need to know: The abolition of the pensions lifetime allowance in April will require an overhaul of employee communications, and a revaluation of pension scheme design and administration, including opportunities to simplify the scheme and reduce the cost of running it.
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Proskauer's Employee Benefits & Executive Compensa
FEBRUARY 13, 2023
As previously discussed , the Pension Benefit Guaranty Corporation (the “PBGC”) issued final regulations in July 2022 for plans that receive special financial assistance (“SFA”) under the American Rescue Plan Act of 2021 (“ARPA”). Although the regulations were “final,” the PBGC invited comments on the phase-in rule in particular.
Proskauer's Employee Benefits & Executive Compensa
JANUARY 27, 2023
2023 WL 186800 (E.D. 13, 2023), the court granted a motion to dismiss a pension plan participant’s claim that the plan was equitably estopped from recouping overpaid plan benefits. in overpaid benefits by reducing his future benefits. 22-cv-2259, 10548 U.S. App’x 588 (6th Cir.
Employee Benefits
MARCH 4, 2024
The lifetime allowance (LTA) is one of those subjects referenced in lots of pension literature , and yet, it only affects a minority of people. With this in mind, imagine the ‘ooohs’ and ‘ahhhhs’ when one of the rabbits out of the 2023 Spring Budget hat was the announcement to make the LTA disappear.
Money Talk
AUGUST 16, 2023
Tax on Social Security Benefits - Those who work and claim benefits will trigger taxes with a combined income above $25,000 (individuals) or $32,000 (married couples filing jointly). If earnings replace prior years in a 35-year benefit formula, benefits will rise. Other benefits also continue.
Employee Benefits
JANUARY 17, 2024
Credt: P Maxwell Photography/Shutterstock The pension pots-for-life plan take the onus off of employees to keep track of their pensions as they move jobs. Clarification is needed on how employers would manage the process of putting employees’ contributions into many different pension pots. But it’s all in the execution.”
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