Deferred compensation plans can avoid the gaze of state income taxing authorities
Article Abstract:
H.R. 394 entitled "State Taxation of Pension Income Act of 1995" enables employees who are participants in qualified retirement programs to avail of lower, or even zero, income tax rates in states where they plan to reside after retiring. Enjoyment of this privilege can be facilitated if employers implement nonqualified mirror plans that would allow future retirees to defer payment of income accruing to them until they shall have transferred to the state of their choice.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1997
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Interest on deferred compensation not deductible
Article Abstract:
A case study involving Albertson Inc.'s challenge of a law on deferred compensation is discussed. The decision considered additional amounts that employers maintain in a nonqualified plan as nondeductible deferred compensation. Albertson, for its part, called the additional amounts as interest which could be deducted. The Ninth Circuit initially followed the firm's line of thinking but later changed its decision to favor a strict interpretation of the law.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1995
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N.Y. hospital surcharges apply to self-insured plans
Article Abstract:
The Second Circuit Court of Appeals has ruled that New York hospital surcharges apply to self-insured plans. The ruling in effect provides states with more leeway to regulate in areas such as hospital rate setting and provider taxes. It is expected to have implications on managed care organizations' ability to challenge state 'any willing provider' statutes.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1995
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