Following the GOP tax cuts, plan sponsors may wish to coordinate administration of their loan offset rollover rules with their TPA, attorneys suggest, in order to avoid inadvertently defaulting participants' plan loans.
Tag: HR New Legislation
Retired couples, according to EBRI research, can require up to $370,000 to cover premiums for Medicare Parts B and D, premiums for Medigap Plan F, and out-of-pocket spending for outpatient prescription drugs.
The debate started when the American Council for Capital Formation published a sharply written report alleging that, as the group puts it, “CalPERS has prioritized relatively poor performing environmental, social and governance [ESG] investments at the expense of other investments more likely to optimize returns.”
The House GOP majority adopted a unified version of the Tax Cuts and Jobs Act Tuesday afternoon; they may have to repeat the process one more time.
However, employers will likely have some difficulty in knowing how to handle the January 1, 2018, effective date that has been assigned for many provisions in the House and Senate tax reform proposals, especially for the purposes of income tax withholding.
At this interim juncture it seems that essentially all of the changes to 457(b) and 403(b) plans that were being contemplated by the Senate have been dropped.
Each having passed their own version of the bill, the House and Senate now enter the conference committee phase, during which key legislators will attempt to craft a unified version of the Tax Cuts and Jobs Act.
Among other changes of note for plan sponsors, the proposal “applies a single aggregate limit to contributions for an employee in a governmental section 457(b) plan and elective deferrals for the same employee under a section 401(k) plan or a 403(b) plan of the same employer.”
“Adding deductibles, copays, hearing, vision, and dental cost sharing, the number grows to $607,662 in future dollars,” the research states.
The district court had previously ruled against the plaintiffs’ motion for a preliminary injunction, finding AARP did not prove irreparable harm to its members was likely; yet in the end AARP has prevailed in its challenge.
Both on the health care and retirement planning fronts, House and Senate Republican leadership has big plans for what they would like to accomplish; how much they can get done is another question.
Given that the use of health savings accounts has sharply expanded under Obamacare, it may be surprising to hear experts argue GOP health care reform efforts could also be a boon for HSAs.