Headlines about "Military - benefits for, incl. USERRA"
Gathered from the web by the editors at BenefitsLink.com.
[Guidance Overview] IRS Details for Qualified Reservist Distribution from Health Flexible Spending Accounts
Excerpt: "Employers that have already allowed QRDs from their cafeteria plans should amend their plans to reflect their rules and procedures regarding QRDs no later than December 31, 2009. Some employers may have already amended their cafeteria plans to allow QRDs and, in that case, they should review the amendment to determine whether they need to make any changes based on the recent clarifications. QRDs made on or after January 1, 2010 will require a prospective plan amendment." (Faegre & Benson LLP)
[Guidance Overview] IRS Guidance on FSA Distributions under the Heroes Earnings Assistance and Relief Tax Act (PDF)
2 pages. Excerpt: "HEART amended Internal Revenue Code Section 125 to allow employers to provide 'qualified reservist distributions' (QRDs) from health flexible spending accounts (FSAs) to employee-reservists who are called to active duty for 180 or more days, or for an indefinite period of time. . . . The IRS has issued Notice 2008-82, which provides important guidance for plan sponsors who wish to add this feature to their FSAs." (Buck Consultants)
[Guidance Overview] IRS Guidance on Qualified Reservist Distributions Addresses Many Open Issues
Excerpt: "EBIA Comment: Although QRDs can help reservists avoid unwanted health FSA forfeitures under the use-or-lose rule, some employers may have delayed amending their health FSA and cafeteria plan documents pending further guidance on QRDs. The guidance in the notice provides much-needed clarification on issues that had been left open by the authorizing legislation, and should help these employers to decide whether to add this new feature to their plans." (Employee Benefits Institute of America)
[Guidance Overview] How Does HEART Affect 415 and PPA Amendments?
Excerpt: "Among other things, [the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART)] will change the way retirement plans deal with employees in the military. This technical update will address three issues: 1. When must plans be amended to conform to HEART? 2. How does HEART affect final 415 regulation amendments? 3. How does HEART affect PPA amendments?" (SunGard)
IRS Provides Guidance on Reservist FSA Distributions
Excerpt: "The Internal Revenue Service has issued Notice 2008-82 providing guidance on qualified reservist distributions (QRDs) from health flexible spending accounts (FSAs) and including a transition rule allowing plans to be retroactively amended for QRDs made before January 1, 2010." (PLANSPONSOR.com; free registration required)
HEART Act Guidance Coming, Says Key IRS Official
Excerpt: "The IRS is preparing guidance on the pension and benefit provisions in the Heroes Earnings Assistance Relief Tax (HEART) Act of 2008 (P.L. 110-245), according to Martin L. Pippins, manager, IRS Employee Plans Technical Guidance and Quality Assurance. However, Pippins, who spoke at the American Law Institute-American Bar Association (ALI-ABA) retirement benefits conference in Washington, D.C. on September 6, 2008, did not indicate when the guidance would be issued." (Wolters Kluwer)
[Guidance Overview] Prohibitions on Health Plan Opt-Out Incentive Options (PDF)
Page 6 of 7 pages. Excerpt: "Both Medicare and TRICARE prohibit employers from offering any financial or other incentives to Medicare or TRICARE eligible employees to not enroll, or to terminate enrollment, in an employer-sponsored group health plan that is or would be primary to Medicare or TRICARE." (Miller & Chevalier Chartered)
[Guidance Overview] Impact of the Heroes Earnings Assistance and Relief Tax Act of 2008 on Employee Benefit Plans (PDF)
6 pages. Excerpt: "The IRS has yet to issue guidance clarifying the provisions of the HEART Act and their impact on employee benefit plans, although it has identified this guidance as a high priority. Since plan amendments incorporating the mandatory provisions of the HEART Act are not required until the last day of the plan year beginning on or after January 1, 2010, you can wait for further guidance from the IRS before amending your plans. Nonetheless, you must be careful to operate your plans in accordance with the provisions of the HEART Act that are effective retroactively or that will take effect as of January 1, 2009." (Harter Secrest & Emery LLP)
[Guidance Overview] Heroes Act Requires Changes to Employee Benefit Plans (PDF)
3 pages. Excerpt: "The changes to employee benefit plans, some required and others optional, generally expand the availability of benefits under retirement and cafeteria plans to employees who have been called to military service. All employers should review the Heroes Act to determine the provisions that apply to their benefit plans, and the applicable effective dates. A summary of the employee benefit provisions of the Heroes Act, and a chart outlining the provisions and their respective effective dates, are provided [on the target page]." (Employee Benefit Plan Review via Winston & Strawn LLP)
[Guidance Overview] Military Retirement Benefits - Structuring Payments as Deductible Alimony
Excerpt: "To be deductible as alimony by the payer, the payment must satisfy the requirements of IRC section 71. A recent Tax Court decision involving the payment of military retirement benefits under the Uniformed Services Former Spouses' Protection Act (USFSPA) to the former spouse of a retired serviceman sheds light on the treatment of alimony payments." (The New York State Society of CPAs)
[Guidance Overview] HEART Act Affords Greater Protections to Those Serving on Active Military Duty
Excerpt: "Under the Act, retirement plans must provide certain survivor benefits to participants who die while serving in active military duty and make plan contributions for 'differential pay.' The Act also modifies the tax treatment of certain deferred compensation items." (Littler Mendelson P.C.)
[Opinion] American Benefits Council Letter to Treasury Requesting Guidance on HEART Act Benefit Provisions (PDF)
6 pages. Excerpt: "The Council's members have raised a number of questions about sections 104, 105 and 107 of the HEART Act, which generally provide relief from certain retirement plan rules for distributions, contributions and accruals made on behalf of participants engaged in qualified military service." (American Benefits Council)
[Guidance Overview] HEART Act Changes Retirement Plan Rules for Military Reservists
Excerpt: "In June, the Heroes Earnings Assistance and Relief Tax ('HEART') Act became law. The Act makes a number of significant changes to the treatment of military reservists under employee benefit plans. This article summarizes those changes as they apply to qualified defined benefit and defined contribution plans, Section 403(b) plans, and Section 457(b) plans." (Spencer Fane Britt & Browne LLP)
[Guidance Overview] Retirement Provisions in the HEART Act May Affect Multiemployer Plans (PDF)
2 pages. (The Segal Group, Inc.)
[Guidance Overview] Do Your Benefit Plans Comply With the HEART Act?
Excerpt: "The recently enacted Heroes Earnings Assistance and Relief Tax Act of 2008 (the 'HEART Act') provides tax relief and protections to members of the armed forces. This Act impacts a number of employee benefit plan provisions, and some provisions of the HEART Act will require employers to amend their benefit plan documents." (Poyner Spruill)
President Bush Signs Law To Ensure Health Benefits for 'Sole Survivor' Veterans
Excerpt: "President Bush on Friday signed into law legislation (HR 5825, S 2874) that will guarantee health benefits for 'sole survivor' veterans who receive honorable discharges, the Los Angeles Times reports." (Kaiser Family Foundation)
[Guidance Overview] Heroes Earnings Assistance and Relief Tax Act of 2008 Contains Several Provisions for Military Service Personnel That Affect Retirement Plans
Excerpt: "The Internal Revenue Service (IRS) has not yet issued any regulations on most of the HEART Act's provisions, but advisors need to know that each provision has its own qualifications, effective dates and retroactive dates." (Financial Planning)
DOL Helps Employers with Injured Veteran Issues
Excerpt: "The U.S. Department of Labor announced a new online resource to help employers in their employment of veterans with traumatic brain injury (TBI) and post-traumatic stress disorder (PTSD), two increasingly common battlefield conditions. Managed jointly by the Department of Labor's Office of Disability Employment Policy and Veterans' Employment and Training Service, in collaboration with other federal agencies, the America's Heroes at Work Web site (www.AmericasHeroesAtWork.gov) provides information about TBI and PTSD as well as tools and guidance on how to implement workplace accommodations and other services that benefit affected individuals." (PLANSPONSOR.com; free registration required)
Career Status Bonus/Redux a Bad Deal for Military Servicemembers
Excerpt: "While the bonus has been frozen at $30,000 since it was introduced in 2001, individuals who take it today forfeit, on average, nearly $100,000 more in lifetime retired pay than bonus takers did seven years ago . . . ." (Stars and Stripes)
[Guidance Overview] HEART Act Provides Additional Private Pension Benefits to Members of the Military (PDF)
4 pages. Excerpt: "[The target document includes a chart which] summarizes the pension provisions of the HEART Act and identifies affected plans and applicable effective dates." (Prudential Retirement)
[Guidance Overview] HEART Act Provides Special Benefits for Active Duty Military
Excerpt: "On June 17, President Bush signed into law the Heroes Earnings Assistance and Relief Tax Act (HEART Act) of 2008. This bill . . . provides certain qualified plan and other tax benefits for members of the military on active duty (or who become disabled or die while on active duty). In this article, we'll discuss briefly the benefit plan issues raised by the HEART Act." (JPMorgan Chase & Co.)
Military Health Care Benefit Extended to Reservist Family Members
Excerpt: "Families of some active-duty Reserve and National Guard members will get a break on paying annual deductibles associated with the military's health care system, according to a final rule published on Tuesday in the Federal Register. The rule, which was proposed in August 2006 and took effect on Tuesday, makes permanent the Defense Department's authority to waive the annual TRICARE deductibles for eligible dependents of reservists and Guard members who are called to active duty for more than 30 days. It applies to those who choose to participate in TRICARE Standard or Extra, rather than TRICARE Prime." (GovernmentExecutive.com)
[Guidance Overview] HEART Act Affects Qualified Plans, Health FSAs, and Military Differential Pay (PDF)
4 pages. Excerpt: "In June, the President signed the Heroes Earnings Assistance and Relief Tax Act ('HEART Act') into law. The HEART Act amends certain provisions that were added by the Uniformed Services Employment and Reemployment Rights Act of 1994 ('USERRA'). The HEART Act requires certain changes for retirement plans and permits other changes, changes the treatment of military differential pay for purposes of retirement plans and income tax withholding, permits certain changes to health FSAs, and adds special withholding provisions for certain expatriate employees." (Powell Goldstein LLP)
[Guidance Overview] Heroes Earnings Assistance and Relief Tax Act of 2008: Impact on Employee Benefit Plans (PDF)
4 pages. Excerpt: "[The Heroes Earnings Assistance and Relief Tax Act of 2008 (the 'HEART Act')] contains mandatory and optional provisions that impact retirement plan benefits and Health FSAs provided to employees performing 'qualified military service' (generally, military service that is covered by USERRA). These provisions are summarized [on the target page]." (Seyfarth Shaw LLP)
[Guidance Overview] The Heroes Earnings and Assistance Relief Tax Act (PDF)
Excerpt: "This Regulatory Brief summarizes the key retirement plan provisions included in the Act, along with the relevant decision points for plan sponsors. It also provides a brief overview of the provisions in the Act applicable to cafeteria plans." (The Vanguard Group)
Plan Changes for Sponsors in Benefits Offered to Returning National Guard Service Members and Their Beneficiaries
Excerpt: "The Heroes Earning Assistance and Relief Tax (HEART) Act of 2008 includes a broad package of mandated benefits changes including substantive shifts in how employers determine death benefits for service members. The death benefit changes were contained in the Honoring Existing Retirement Obligations for Every Service Member (HEROES) Act that was part of the larger bill." (PLANSPONSOR.com; free registration required)
Pentagon Study Recommends Complex Four-Part Retirement Plan Be Tested on Few Thousand Military Volunteers
Excerpt: "The 'flexible' retirement plan . . . would apply both to active and reserve component members. All members would come under two of its features -- a defined annuity plan and a government-funded Thrift Savings Plan account -- with vesting after only 10 years of service." (Stars and Stripes)
Military Retirement System Should Be Overhauled, Quadrennial Review Board Says
Excerpt: "An independent panel examining military retirement, health care and quality of life programs concluded that significant changes should be made, particularly in retirement benefits, to help the military services attract and retain people with needed skills. The current retirement system is viewed as 'inequitable, inflexible and inefficient,' the 10th Quadriennial Review of Military Compensation found." (GovernmentExecutive.com)
[Guidance Overview] Rhode Island Military Family Relief Act Imposes New Leave Requirements on Large and Small Employers (PDF)
2 pages. Excerpt: "[E]mployers who previously believed they were not required to comply with federal and state family leave laws because they have fewer than fifty (50) employees, may need to update or develop leave policies based on the Act's provisions. In addition, larger employers will need to review and update their leave policies to ensure their existing policies comply with the Act." (Nixon Peabody LLP)
'Benefits Quarterly,' 3rd Quarter 2008, Executive Summaries of Articles
Articles are titled: The Supreme Court Gives a 'Green Light' to Individual 401(k) Lawsuits; FMLA Expanded for Leaves Related to Family Members Serving in the Military; Nationwide Savings Plan Automatic Enrollment Getting Associates PREPared for Retirement; Work Options for Older Americans: Employee Benefits for the Era of Living Longer; Alternatives to Cash in Ensuring the Solvency of Defined Benefit Pension Funds; Lessons From Pension Reform in the Americas; and, The Future of Retirement: An Exploration and Comparison of Different Scenarios. (International Society of Certified Employee Benefit Specialists)
[Guidance Overview] New HEART Act Affects Benefit Plans
Excerpt: "Compliance with the HEART Act will require plan amendments to many retirement plans by Dec. 31, 2010 (for calendar year plans). In addition, any employer that wants to add qualified reservist distributions to a cafeteria plan must amend the plan and distribute a revised summary plan description or summary of material modification by the appropriate deadlines for the effective date the employer chooses for implementation of the change." (Faegre & Benson LLP)
Familiarity with USERRA Regulations Doesn't Always Guarantee That an Employer Will Be in Full Compliance
Excerpt: "As of July 11, according to [the Pentagon's office of the Employer Support of the Guard and Reserve], more than 9,200 contacts were made to the organization through e-mail, phone or its Web site form this year -- of which more than 2,000 were determined to be employer-violation cases that required mediation through an ombudsman affiliated with ESGR." (Human Resource Executive Online)
[Guidance Overview] The Heroes Earnings Assistance and Relief Tax Act Contains Number of Changes to Help Individuals in the Uniformed Service and Their Families
Excerpt: "It creates Code Section 401(a)(37) and affects qualified plan rules for those called into the military. It also has an impact on cafeteria plans and expatriation rules." (McKay Hochman Co., Inc.)
[Guidance Overview] New Rhode Island Law Grants Military Family Members Unpaid Leave
Excerpt: "On June 23, 2008, Governor Donald Carcieri signed into law the Family Military Leave Act (the 'Act'), Rhode Island General Laws sections 30-33-1 to 30-33-6. The Act, effective when signed, offers a new right to unpaid leave for the family of servicemembers. Under the new law, spouses and parents of persons called into military service must be allowed time off and restored to an equivalent position at the conclusion of their leave." (Littler Mendelson P.C.)
[Guidance Overview] Impact of the Heroes Earnings Assistance and Relief Act of 2008 on Your Employee Benefit Plans
6 pages. Excerpt: "This newsletter explains how HEART's provisions impact sponsors' administration of health FSAs, qualified 401(k) and other retirement plans, and 403(b) tax-sheltered annuities." (Utz, Miller, Kuhn & Eickman, LLC)
[Guidance Overview] How Does HEART Affect 415 and PPA Amendments?
Excerpt: "On June 17, 2008, the President signed the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART). Among other things, HEART will change the way retirement plans deal with employees in the military. This technical update will address three issues: When must plans be amended to conform to HEART? How does HEART affect final 415 regulation amendments? How does HEART affect PPA amendments?" (SunGard)
[Guidance Overview] The Basics of the HEART Act
Excerpt: "AHI's Benefit Alert provides some useful information on The Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART) Act. The Act provides benefits preferences to employees who are in the National Guard and Reserves. It may also impact 401(k) plans and health flexible spending accounts (FSAs)." (Workplace Prof Blog)
[Guidance Overview] HEART Act Provides Benefits for Employees on Active Military Duty
Excerpt: "The HEART Act amends primarily the Internal Revenue Code of 1986 (the Code) to provide certain benefits for military personnel and their beneficiaries, including enhanced retirement and welfare benefits." (McDermott Will & Emery)
[Guidance Overview] Expatriate Rules in HEART Act of 2008 Affect Deferred Compensation
Excerpt: "Expatriation on or after June 17, 2008, may cause an expatriate to be subject to IRC § 877A, which was enacted as part of the Heroes Earnings Assistance and Relief Tax Act (HEART) Act of 2008. . . . If a deferred compensation item is not an eligible deferred compensation item (and not subject to IRC § 83), an amount equal to the present value of the deferred compensation item is treated as having been received on the day before the expatriation date." (Deloitte via BenefitsLink.com)
[Guidance Overview] Heroes Earning Assistance and Relief Tax Act Adds Benefits for Those in Military Service (PDF)
Pages 3- of 8 pages. Excerpt: "The HEART Act deals principally with the tax treatment of military personnel, with provisions applying to a wide range of Internal Revenue Code ('Code') provisions. This article will deal primarily with those provisions which have an effect on qualified retirement or Section 125 plans, and IRAs." (Trucker Huss)
[Guidance Overview] Heroes Act Signed Into Law
Excerpt: "The act eases withdrawals from retirement accounts and health flexible spending accounts (FSAs), and protects survivor and disability benefits for men and women in the military and their survivors. It also addresses the treatment of differential wage payments, imposes new tax and withholding requirements on the property of some expatriating individuals and extends the Mental Health Parity Act." (Watson Wyatt Worldwide)
Executive Summaries of Articles in Benefits Quarterly, 3rd Quarter, 2008
The articles are titled: The Supreme Court Gives a 'Green Light' to Individual 401(k) Lawsuits; FMLA Expanded for Leaves Related to Family Members Serving in the Military; Nationwide Savings Plan Automatic Enrollment Getting Associates PREPared for Retirement; Work Options for Older Americans: Employee Benefits for the Era of Living Longer; Alternatives to Cash in Ensuring the Solvency of Defined Benefit Pension Funds; Lessons From Pension Reform in the Americas; and, The Future of Retirement: An Exploration and Comparison of Different Scenarios. (International Society of Certified Employee Benefit Specialists)
President Signs Heroes Earnings Assistance and Relief Tax Act of 2008 into Law
Excerpt: "In addition to provisions that may affect benefits under 401(k) plans for certain participants in military service (such as survivor benefits, differential pay, and elective deferrals), the Act allows cafeteria plans to provide qualified reservist distributions from health FSAs. It also extends the mental health parity provisions of the Code, ERISA, and the PHSA." (Employee Benefits Institute of America)
[Guidance Overview] Penalty-Free Withdrawals for Reservists from Retirement Plans to Be Allowed
Excerpt: "President Bush recently signed into law The Heroes Earnings Assistance and Relief Tax Act of 2008, HR 6081. The law contains a provision that would permanently allow penalty-free withdrawals from retirement plans (and subsequent re-contributions to IRAs) for active-duty reservists." (ICMA-RC)
[Guidance Overview] The Heroes Earnings Assistance and Relief Tax Act of 2008
Excerpt: "The HEART Act addresses the treatment of payments made to individuals who are called to active military service, provides mandatory and optional changes to the treatment of reservists on active military duty under retirement plans, and permits special distributions from health flexible spending arrangements to employees who are called to active military service." (Kilpatrick Stockton LLP)
[Guidance Overview] Heroes Earnings Assistance and Relief Tax (HEART) Act (PDF)
2 pages. (Milliman)
[Guidance Overview] HEART Act Requires Employers to Provide Benefits to Employees Called to Military Service (PDF)
2 pages. Excerpt: "Certain HEART Act provisions are immediately effective for employee benefit plans. Plans generally must be amended to comply with the HEART Act provisions by the 2010 plan year." (Ballard Sphar Andrews & Ingersoll, LLP)
[Guidance Overview] Bush Signs Military Reservist Benefits Measure
Excerpt: "Employees no longer will have to forfeit unused balances in their health care flexible spending accounts when called up from the reserves for active military duty." (Workforce Management; free registration required)
[Guidance Overview] HEART Act Requires Employers to Provide Benefits to Employees Called to Military Service
Excerpt: "Certain HEART Act provisions are immediately effective for employee benefit plans. Plans generally must be amended to comply with the HEART Act provisions by the 2010 plan year." (Ballard Sphar Andrews & Ingersoll, LLP)
[Guidance Overview] New Military Law Impacts Treatment of Wages and Benefits (PDF)
Excerpt: "President Bush has just signed the Heroes Earnings Assistance and Relief Tax Act of 2008 into law. In addition to providing tax breaks and incentives for military personnel, the law impacts employers' treatment of differential wage payments and their retirement plans. It could also affect their health flexible spending arrangements." (Buck Consultants)
Bush Signs Bill Protecting Survivor Benefits of Military Members
Excerpt: "Legislation to protect the survivor benefits of service members killed in action was signed into law by President Bush on Tuesday." (PLANSPONSOR.com; free registration required)
[Guidance Overview] Heroes Earnings Assistance Act Awaiting Signature By President
Excerpt: "Passed unanimously by the House and Senate, The Heroes Earnings Assistance and Relief Tax Act of 2008 (H.R. 6081) now awaits signature by the President. Sponsored by Rep. Charles B. Rangel (DN.Y.), the Act provides a panoply of adjustments aimed at providing financial relief to military families." (Deloitte via BenefitsLink.com)
[Guidance Overview] New Heroes Act Improves Pay and Employee Benefits for Military Personnel (PDF)
3 pages. Excerpt: "Recently, Congress passed the Heroes Earnings Assistance and Relief Tax Act of 2008 (the 'Heroes Act'), which changes certain rules pertaining to retirement plans, health flexible spending accounts ('health FSAs'), and group health plans with the goal of increasing or improving the pay and employee benefits provided to employees in military service." (Dechert LLP)
[Guidance Overview] Protecting Members of the Military at Work
Excerpt: "USERRA -- which relates to employer treatment of military service members -- is probably the most employee-friendly federal statute that exists. A primer for HR leaders on its requirements is included in this month's column . . . ." (Human Resource Executive Online)
[Guidance Overview] New Law Provides Additional Benefits to Employees in Military Service
Excerpt: "The [target page] chart summarizes the most significant provisions of the Heroes Act that apply to employee benefit plans and includes information about mandatory and optional action steps that employers may need to take." (Davis Wright Tremaine LLP)
[Guidance Overview] Miller & Chevalier's Focus on Employee Benefits, June 5, 2008 (PDF)
6 pages. The newsletter offers articles on: Health FSA and Mental Health Parity; Qualified Plan Queries: Differential Pay Now Compensation Under Code Section 415 and New Distribution Feature; Qualified Plan Queries: Military Survivor and Disability Benefits Under Tax-Qualified Plans; Exec Comp Corner: New Code Section 887A Impacting Withholding on Certain Expatriates' Deferred Compensation. (Miller & Chevalier Chartered)
[Guidance Overview] HEART Act Requires Employers to Provide Benefits to Employees Called to Military Service (PDF)
2 pages. Excerpt: "Certain HEART Act provisions are immediately effective for employee benefit plans. Plans generally must be amended to comply with the HEART Act provisions by the 2010 plan year." (Ballard Sphar)
[Guidance Overview] Military Bill with Payroll Provisions Cleared for President
Excerpt: "Congress has passed H.R. 6081, the Heroes Earnings Assistance and Relief Tax (HEART) Act. The bill, which would extend and/or modify several benefit provisions for the military, contains a few payroll-related items." (Wolters Kluwer)
[Guidance Overview] HEART Act Provides Benefits for Those in Military Service (PDF)
3 pages. Excerpt: "The HEART Act amends the Internal Revenue Code and the Social Security Act to provide certain tax benefits and incentives to military personnel." (Groom Law Group)
New Legislation Enhances 401(k) Benefits for Military Personnel, Allows Qualified Reservist Distributions from Health FSAs, and Extends MHPA
Excerpt: "For some 401(k) plans, the Act's rule requiring enhanced survivor benefits may trigger accelerated vesting of matching and profit-sharing contributions for short-service participants. While not previously mandatory, treating differential military pay as plan compensation was already available for 401(k) plans in the final regulations under Code Section 415. (And while not specifically addressed, the Act may also facilitate pre-tax cafeteria plan salary reductions from differential pay.)" (Employee Benefits Institute of America)
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