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Article Index » employee benefits » retiree benefits
Report Link IRS Publishes Updated Notices for Retirement Plan Rollover Distributions.
Vedder Price - September 17, 2009
IRS Publishes Updated Notices for Retirement Plan Rollover Distributions.
Report Link New Guidance (and Solid Reasoning) from the Courts.
Ogletree Deakins - February 10, 2009
Two recent court decisions, one by the U.S. Supreme Court and the other by the Sixth Circuit Court of Appeals, have provided employers, plan sponsors, and plan administrators with valuable guidance regarding two of the pressing issues in benefits: retiree health care and the distribution of death benefits. Both of these cases point to the need for employers and plan sponsors to take care in the design of their plans and the terms of other documents (i.e., collective bargaining agreements) that may have a substantial impact on the administration of benefit plans.
Report Link Congress Provides Seniors With Limited Retirement Account Relief.
Ford & Harrison LLP - December 18, 2008
Last week, Congress passed the Worker, Retiree and Employer Recovery Act of 2008 (the "Act"), which, when signed by the President (it has not been signed as of the time of this writing), will help reduce part of the financial burden facing seniors who have seen their retirement savings shrink dramatically over the past several months. The Act includes a provision that would allow individuals who have reached age 70-1/2 to avoid "locking in" investment losses by withdrawing funds that they are required by law to withdraw.
Report Link Coordination of Retiree Health Benefits with Medicare and State Health Benefits.
Littler Mendelson, P.C. - January 23, 2008
On December 26, 2007, the EEOC published its final rule permitting an exemption from the ADEA for employers who offer retiree health care benefits that coordinate with Medicare. The final rule confirms the ability of employers to continue the practice of offering retirees eligible for Medicare benefits that differ from those offered to retirees who are under the age of 65. The exemption is effective immediately and applies to all current or newly created retiree benefits plans.
Report Link New EEOC Rule Allows Employers to Change Health Benefits When Retirees Become Eligible for Medicare.
Phelps Dunbar LLP - January 16, 2008
The Equal Employment Opportunity Commission (EEOC) issued a new final rule on December 26th that allows employers to reduce or eliminate health benefits to a retiree when he or she becomes eligible for Medicare, without violating federal age discrimination laws.
Report Link EEOC Publishes Final Rule Permitting Employers to Coordinate Retiree Health Benefits with Medicare.
Ford & Harrison LLP - January 04, 2008
The Equal Employment Opportunity Commission (EEOC) has published its final rule permitting employers to coordinate retiree health benefits with eligibility for Medicare or comparable state health benefits programs. See 29 CFR Parts 1625 and 1627. Specifically, the rule creates a narrow exemption from the Age Discrimination in Employment Act (ADEA) for such plans. The rule does not otherwise affect an employer's ability to offer health or other employment benefits to retirees, consistent with the law.
Report Link 2008 Cost of Living Adjustments for Retirement Plans.
Jackson Lewis LLP - October 24, 2007
The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations for retirement plans and Social Security generally effective for Tax Year 2008 (see IR‑2007-171). Most notably, the limitation on annual salary deferrals into a 401(k) plan remains unchanged at $15,500.
Report Link 3rd Circuit Decision Greenlights Changes To Retiree Health Plans.
Fisher & Phillips, LLP - June 27, 2007
Employers and retirees may have finally gotten the green light to design retiree health plans and early retirement incentive programs to take advantage of the retirees' eligibility for Medicare benefits. On June 4, 2007, the U.S. Court of Appeals for the Third Circuit issued a long awaited ruling holding that EEOC's 2003 proposed regulations allowing employers to design their retiree health plans to coordinate with Medicare, were valid.
Report Link Fifth Circuit Holds that Merger Agreement Amends Retiree Medical Program and Prevents Subsequent Amendment to Benefits Coverage.
Littler Mendelson, P.C. - November 08, 2006
In a case with major implications for retiree medical plans, the Fifth Circuit Court of Appeals held in Halliburton Company Benefits Committee v. Graves, 463 F.3d 360 (5th Cir. 2006), that amendments made by Halliburton Company in 2003 to the medical benefit program for retirees of Dresser Industries violated a 1998 merger agreement between Halliburton and Dresser. The Court concluded that the provision of the merger agreement that allowed Halliburton to change retiree medical benefits only if the company made similar changes to medical benefits for current employees was a revision to the retiree medical program plan documents that restricted Halliburton's otherwise unfettered right to make changes to the Dresser retiree medical program.
Report Link Employee Plans Compliance Resolution System Updated (pdf).
Ford & Harrison LLP - May 24, 2006
A retirement plan that is intended to satisfy the requirements of Internal Revenue Code (“Code”) Section 401(a), may discover that it has inadvertently failed to meet one or more of those requirements.
Report Link DOL and SEC Offer Tips for Selecting Service Providers for Retirement Plans and Evaluating Their Objectivity.
Jackson Lewis LLP - June 29, 2005
We are often asked what a retirement plan sponsor should consider when selecting a service provider for the plan. This is important for plan sponsors since they typically rely on the professionals they select to advise and assist them with their employee benefit plan duties.
Report Link Phased Retirement Regulations Proposed (pdf).
Vedder Price - February 17, 2005
The IRS recently released proposed regulations that will permit phased retirement programs if certain requirements are satisfied.
Report Link EEOC Announces Relief For Employers Providing Retiree Health Benefits.
Littler Mendelson, P.C. - June 24, 2004
On April 22, 2004, the EEOC approved a final rule that would permit employers to provide lesser benefits to retirees who are eligible for Medicare than to retirees who are not yet eligible for Medicare.
Report Link Redefining Retirement in the 21st Century.
Knowledge@Wharton (Reg Required) - June 03, 2004
This article focuses on pension planning as it relates to employment trends among both younger and older workers.

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