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BenefitsLink Health & Welfare Plans Newsletter
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[Guidance Overview]
Is a Sabbatical Vested Vacation?
"To figure out whether the sabbatical is vested vacation, which must be paid out upon termination under Labor Code Section 227.3, the court came up with a definition of 'vacation . . . .'"
(Shaw Valenza LLP)
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[Guidance Overview]
California Legislature Clarifies Paid Bone Marrow Leave
"Governor Brown just signed SB 272, which clarifies last year's paid bone marrow /organ donation leave law. That law requires employers to grant up to five days' paid leave for bone marrow donation and up to 30 days' paid leave for organ donation."
(Shaw Valenza LLP)
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Benefits in General; Executive Compensation
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Tax Expenditures, the Size and Efficiency of Government, and Implications for Budget Reform
"One possible explanation for the difficulty in controlling the budget is that a major component of spending—tax expenditures—receives privileged status. It is treated as tax cuts rather than spending. This paper explores the implications of that misclassification and illustrates how it can lead to higher taxes, larger government, and an inefficient mix of spending (too many tax expenditures)."
(National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext)
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45,000 Workers at Verizon Communications Businesses to Strike Over Proposed Benefit Cuts
"Verizon wants the unionized workers to start contributing to their health care premiums, including $1,300 to $3,000 a year toward family coverage. The company has also called for freezing pension contributions for current employees, eliminating traditional pensions for future workers, limiting sick days to five a year, and eliminating all job security provisions."
(The New York Times; free registration required)
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New York Issues More Guidance on Marriage Equality
"Same-s.ex married couples are advised by the Department to consider adjusting their withholding for New York income tax purposes to take into account their married filing status for the year[.]"
(Deloitte via BenefitsLink.com)
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Fiduciary Standard Helps Foundations Prepare for Regulatory Activism
"The laws pertaining to the prudent investment of endowment funds have experienced unprecedented change over the past fifty years. A driving force of this change has been the evolving nature of endowment management, from an absolute preservation of principal standard to today's modern portfolio theory, which emphasizes total return. The evolution gave impetus to the development of the Uniform Prudent Management of Institutional Funds Act (UPMIFA). Following years of construction, it was introduced in 2006 as a model fiduciary law."
(JonHope Publishing Company, Inc.)
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Press Releases
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