Clinton plan provides pension safe harbors

Article Abstract:

Pres. Clinton has proposed a plan to simplify pension plans in the US that would trigger more plan start-ups and encourage more savings. This has been favorably received by benefit planners since the pension law has grown to become very complicated. Two safe harbors are being proposed by the plan. The first safe harbor allows employers to contribute at least 30% of the employees' pay. The second harbor enables companies to avoid indiscriminate testing if they can give 100% for the first 30% of an employee's salary and 50% for the next 2%.

Pension Funds & Benefit Plans, Pension Funds

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Taxing benefits: thinking the unthinkable

Article Abstract:

The pros and cons of the Clinton administration's attempt to tax employer-funded health insurance premiums if the benefits exceed a particular limit are discussed. According to the Congressional Budget Office, about $40 billion in revenues can be raised in 1993 by taxing employee benefits. The amount can increase to about $96 billion by the end of the decade, enough to pay for the bulk of the cost of health reform, which is calculated at $40 billion to $70 billion yearly.

Taxation, Finance, Employee benefits, Health care reform

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Administration looks toward pension starts

Article Abstract:

Legislation for employer-established pension plans are a priority that the Clinton administration must look into. Complicated laws about the pension system are discouraging most employers from finding the best plans for their employees. The number of American workers possessing pension plans are gradually decreasing from 50% in 1979 to 44% in 1993. A pension simplification system is currently being planned by some sectors in the Senate.

Pensions

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