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”).

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Pension Pension Benefit Employment IT 98

International Foundation of Employee Benefit Plans

FEBRUARY 28, 2023

For the first time since the Employee Retirement Income Security Act of 1974 (ERISA) introduced the concept of withdrawal liability, the Pension Benefit Guaranty Corporation (PBGC) has announced a proposed.

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Pension Benefit Pension Employment Employee Benefits 83

Money Talk

AUGUST 16, 2023

Employer Benefits - Workers age 65+ at large companies can still be covered by group health insurance, thereby postponing Medicare premiums. Other benefits also continue.

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Taxes Pension Deductions Deductible 130

Employee Benefits

MARCH 7, 2024

This will include the impact of the 10% national living wage increase and enhancement of its pension benefits, with staff now able to access up to 6% employer contributions. The bakery chain also implemented an 8% overall wage and salary inflation in 2023 and expects to make around an increase of around 9.5%

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Bonuses Pension Benefit Manufacturing Pension 59

International Foundation of Employee Benefit Plans

MARCH 14, 2023

A new rule proposed by the Pension Benefit Guaranty Corporation (PBGC) would increase the certainty of withdrawal liability determinations for multiemployer benefit plans and likely help prevent withdrawal liability disputes from going to arbitration and litigation, PBGC officials say.

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Pension Benefit Pension Employment Employee Benefits 70

Employee Benefits

FEBRUARY 26, 2024

“These additional statistics show that it is vital that the government ensures that savers are given appropriate support and education to save for retirement in an era when it is likely that state pension benefits will only become available in an individual’s eighth decade.”

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Retirement Plan Pension Pension Benefit Government 59

International Foundation of Employee Benefit Plans

MAY 9, 2023

The American Rescue Plan Act (ARPA) of 2021 authorized special financial assistance (SFA) through the Pension Benefit Guaranty Corporation (PBGC) to eligible severely underfunded multiemployer plans. ARPA added section 4262 to Title IV of the Employee Retirement Income Security Act (ERISA).

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Pension Benefit Pension Employee Benefits 58

Employee Benefits

MARCH 4, 2024

Much like a classic transformation trick, LTA is disappearing but enter stage left, the lump sum allowance, and the lump sum and death benefit allowance. The lump sum allowance is a cumulative limit of £268,275 on the tax-free elements of someone’s pension benefits.

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Pension Pension Benefit Taxes Government 59

International Foundation of Employee Benefit Plans

JULY 8, 2022

Changes to the Special Financial Assistance (SFA) Program announced Wednesday by the Pension Benefit Guaranty Corporation (PBGC) will improve the ability of underfunded multiemployer defined benefit (DB) pension plans to.

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Pension Benefit Pension Education Employee Benefits 72

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 17, 2022

A hotly debated (and litigated) issue for multiemployer pension plans in recent years has been the appropriate interest rate to determine a multiemployer pension plan’s liabilities when calculating the plan’s underfunding for withdrawal liability purposes.

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Pension Pension Benefit Employment IT 95

Employee Benefits

JULY 24, 2023

Finn Brennan, Aslef’s Underground organiser, said: “After a week of intense negotiations, we have made real progress in making sure our members’ working conditions and pensions are protected from the impact of the Tory government cuts to TFL funding. There will be no changes to pension benefits before the next general election.

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Employee Benefits

MAY 9, 2023

There were 12,693 members in total, consisting of 8,421 deferred members, 3,847 pensioner members and 425 dependant pensioners. The deal aimed to create a better outcome for the majority of members, providing pension benefits at or in excess of Pension Protection Fund (PPF) compensation levels with no reductions.

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Pension Pension Benefit Insurance Employee Benefits 59

Employee Benefits

JANUARY 18, 2022

The Employee Benefits Pensions research 2020 report revealed that ‘uncertainty around how to make the best decisions when accessing pension benefits’ is the primary concern among employees leading up to or during retirement, and that four out of five employers want to help employees make informed decisions at retirement. .

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Pension Pension Benefit Finance Salary 141

Employee Benefits

SEPTEMBER 6, 2023

Pre-retirement – retiring well: In the years before retirement, support should be provided to help with planning for retirement and understanding retirement income options, clearing debt, and maximising pension benefits and other savings in a tax efficient way.

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Pension Pension Benefit Taxes Education 105

Employee Benefits

NOVEMBER 8, 2022

Trott has taken over responsibility for pensioner benefits including state, private and occupational provisions, as well as oversight of bodies such as The Pensions Regulator (TPR).

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Pension Pension Benefit Government Taxes 59

Employee Benefits

JUNE 8, 2023

The control of staff performance and day-to-day management, and ultimate employment responsibility for the team, stays with the commissioning business, with duties such as payroll, pension, benefits and employment administration with HMRC resting with HIVE360.

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Outsourcing Payroll Employee Benefits Pension Payroll Service 52

Proskauer's Employee Benefits & Executive Compensa

AUGUST 20, 2021

This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer pension plans that was created by the American Rescue Plan Act (ARPA).

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Pension Pension Benefit Employment Executive Compensation 98

Employee Benefits

DECEMBER 16, 2021

“This is in addition to supporting the defined benefit pension scheme to meet the cost of pension benefits already earned.” The post Aston Martin staff threaten to strike in pensions row appeared first on Employee Benefits.

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Pension Pension Benefit Manufacturing Consulting 59

Employee Benefits

JANUARY 17, 2024

With ageing workforces, employers are cognisant of the fact that they will need to recruit and retain people over 50, where pension benefits are a key focus,” he explains. “Employers [that] have paternalism around benefits generally, including pensions, will be looking to have the right level of contributions.”

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The Workcomp Writer

JUNE 3, 2022

The claimant requested that his average weekly wage be adjusted to include not only his hourly compensation of $36.78, plus health and welfare benefits at a rate of $8.80 per hour, plus various pension benefits that when totaled would have adjusted his AWW upward from $999.80 to $1,545.10.

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Pension Health and Welfare Healthcare Benefits Commissions 72

Employee Benefits

FEBRUARY 16, 2022

At Ashurst, we closely consider the pension and benefits we offer and focus particularly on how we engage our people in these offerings to ensure they are of maximum benefit. This means ensuring they are not only relevant but that employees are engaged with what is available to them.

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Pension Pension Benefit Finance Retirement Plan 52

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 21, 2021

Many multiemployer plans and their participants, contributing employers and unions certainly hope so, as they eagerly anticipate the issuance of a Pension Benefit Guaranty Corporation (“PBGC”) final rule that may answer the question for them. Fast forwarding to the year 2022, will it be a happy new year?

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Pension Executive Compensation Pension Benefit Employee Benefits 98

Proskauer's Employee Benefits & Executive Compensa

AUGUST 3, 2021

This episode of The Proskauer Benefits Brief is the first of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer pension plans that was created by the American Rescue Plan Act (ARPA).

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Pension Pension Benefit Executive Compensation Government 56

Employee Benefits

JANUARY 20, 2023

For example, if legislation such as the current Part-Time Workers (Prevention of Less Favourable Treatment) Regulations 2000 were to be amended or removed, this could result in part-time workers receiving less favourable treatment than their full-time peers when it comes to areas such as pensions , benefits, pay and leave, to name but a few.

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Government Parental Leave Pension Benefit Pension 52

Employee Benefits

FEBRUARY 17, 2023

Review their current situation – If they have already taken some pension benefits, they should start by looking at a current pension valuation and assessing how much of their LTA they have used. There are some options that employees should be aware of to either avoid or reduce the impact of the LTA: 1.

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Pension Taxes Pension Benefit Salary 104

Employee Benefits

JANUARY 26, 2022

Then in the years before retirement, support should be provided around tax efficiency, planning for retirement and understanding retirement income options, clearing debt and maximising pension benefits and other savings.

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Pension Pension Benefit Retirement Plan Taxes 52

Kollath CPA

JUNE 27, 2022

Take stock of any pensions, benefit plans, health savings accounts and other tax-favored health plans. The return you need to file depends on the type of business you were running. Take care of employees. You’ll need to pay any final wages or compensation, making final federal tax deposits and reporting employment taxes.

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Taxes Health Savings Account Pension Benefit Pension 52

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 13, 2021

This episode is the final installment of our three-part series on a new special financial assistance program created by the American Rescue Plan Act of 2021 for troubled multiemployer plans and the interim guidance issued by the Pension Benefit Guaranty Corporation regarding the program.

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Pension Pension Benefit Executive Compensation Employment 52

HR Professionals Magazine

JANUARY 31, 2022

The benefits in most defined benefit plans are protected, within certain limitations, by federal insurance provided through the Pension Benefit Guaranty Corporation (PBGC). Examples of. defined contribution (DC) plans include 401(k) plans, 403(b) plans, employee stock ownership plans, and profit-sharing plans.

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401(k) Pension Profit Sharing Plan Pension Benefit 40

Employee Benefits

JANUARY 21, 2022

There are some options that employees should be aware of to either avoid or reduce the impact of the LTA: Review current situation – If they have already taken some pension benefits, they should start by looking at a current pension valuation and assessing how much of their LTA they have used.

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Pension Taxes Pension Benefit Education 52

Business Management Daily

MARCH 14, 2022

If an employee is at least 65, has held a high policy-making or executive position for the preceding two years, and is entitled to receive employer-financed pension benefits or other retirement benefits of at least $44,000 annually, they may be subject to mandatory retirement policies.

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Employment Government Pension Benefit Salary 52

Hppy

APRIL 27, 2023

Beyond setting all of this up, it can present confusing pension arrangements. For example, they may be required to contribute to a pension system in both their home and host country. Accessing pension benefits suddenly becomes complex, whilst in other scenarios it may actually pose an extra financial burden.

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Money Talk

DECEMBER 22, 2021

Pension COLAs - Pension benefits for some retirees are also indexed for inflation. An example is pensions for federal government workers and military retirees and disabled veterans. a $59 increase for every $1,000 of benefits) in 2022. Their COLA, like Social Security, is 5.9% (i.e.,

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401(k) Pension Taxes Deductions 223

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 22, 2022

As noted below, SRCs need not include any amount for pension benefits.). This calculation excludes the impact of changes to actuarial assumptions ( g. changes in interest or mortality assumptions) and compensation; and there is no adjustment for vesting conditions. (As

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Executive Compensation Pension Pension Benefit Consulting 85

International Foundation of Employee Benefit Plans

OCTOBER 25, 2022

The post PBGC Special Financial Assistance Final Rule: Permissible Investments appeared first on Word on Benefits. The PBGC final rule details permissible investments for SFA assets. Get key takeaways in our latest blog.

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Pension Benefit Pension Insurance Employee Benefits 91

International Foundation of Employee Benefit Plans

NOVEMBER 8, 2022

Multiemployer pension plans that intend to apply for SFA from the PBGC should note the schedule for reviewing applications and may want to consider submitting a lock-in application. The post PBGC Special Financial Assistance “Lock-In” Application for Nonpriority Plans appeared first on Word on Benefits.

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Pension Pension Benefit Employee Benefits 70

Employee Benefits

OCTOBER 4, 2023

There is the potential for a tribunal to award up to six years back pay, plus interest; an award may also result in liabilities for pay-as-you-earn (PAYE) and pension benefits or pension loss. Equal pay claims are notoriously difficult to pursue and defend, and expensive to lose.

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