Supreme Court excludes pension assets from bankruptcy estate
Article Abstract:
The Supreme Court declared that a retirement plan participant's petition for bankruptcy estate excludes his interest in that qualified plan. Thus, creditors may not collect retirement benefits from said estate. The ERISA and the Bankruptcy Code rules that restrict transfer payments can be enforced under the Code. However, the Court ruled that apllicable nonbankruptcy law is not exclusive of state law. The definition of state law in the Code indicates that applicable non-bankruptcy law covers other federal statutes, including ERISA. Thus, retirees must keep qualified plan assets subject to the ERISA.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1992
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Court examines 'top hat' criteria
Article Abstract:
A case study of court rulings and regulatory agency directives is presented which sets the initial qualifications of the 'top hat' deferred compensation plans for executives. The top hat plans are tested against criteria for percentage of work force, the ability of the employee or employee group to influence their benefit plans, the dollar level of compensation and the qualification of the benefit plan as a 'plan' as opposed to being an employment contract.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1997
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More time to spend FSA funds
Article Abstract:
Employers modified Flexible Spending Arrangements (FSAs) to postpone reimbursement of health and care expenses. FSAs are different form Health Savings Accounts (FSAs) and allowed employees to pay cost along with pre-tax funds which were uncovered or reimbursed. During grace period, to reimburse plan, employees were given a grace period to pay the funds.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 2005
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