Benefits

A&A

Download GASB’s New Proposals for Retiree Benefit Plans

Three exposure drafts the GASB approved in May – two regarding other postemployment benefits and one on requirements for pension plans that fall outside of the board's pension rules – can now be accessed free of charge.
A&A

Improving Retiree Benefits Reporting Focus of New GASB Exposure Drafts

Proposals would significantly improve financial reporting of other postemployment benefits, such as retiree health insurance, as well as establish requirements for pensions and pension plans that are outside the scope of the rules the GASB published in 2012.
Tax

The 'Hidden' Social Security Tax Change

Like clockwork, the SSA announces an increase in the annual Social Security "wage base" practically every October. This year is no exception. Among other changes, the SSA says the wage base will jump to $113,700 in 2013.
Tax

IRS Guides Employers on 'Play-or-Pay' Rules

In the wake of the Supreme Court upholding the PPACA, it's time for employers to get down to work. In particular, business clients must soon establish which employees will be covered under the "play-or-pay" rules.
Tax

Guidance on ERISA Notice for Underfunded Pension Plans

The IRS has provided new guidance on notice requirements under the ERISA for single-employer defined plans, like pension plans, when the plan fails to meet certain funding levels (Notice 2012-46).
Practice

Employee Benefits When Times Are Tough

Heath care continues to grow increasingly expensive. So does the rent. So do the coffee and creamer you offer your staff. While some of these may only seem like pennies, pennies add up after a while.
Practice

Happy Employees Make Happy Clients

Melissa Brogan is hesitant to call the benefits offered at Barnes Dennig "perks." For her, it's a reflection of her firm's culture. Barnes Dennig has an employee- and client-centric culture and boasts a staff retention average of 94 percent.
Practice

Weighing In on Employee Benefit Plans

MetLife has released its "Tenth Annual Study of Employee Benefits Trends," the results of which confirm that despite uncertain and shifting times, the potential of benefits to help attract and retain talent and improve employee productivity are stronger than ever.
Practice

IRS Raises Limits for HSAs and HDHPs for 2013

In IRS Revenue Procedure 2012-26, the IRS has announced the new inflation-adjusted increases for Health Savings Account (HSA) contributions and high-deductible health plan (HDHP) deductibles. These amounts apply to the 2013 calendar year.
Practice

Parking and Mass Transit Employee Benefits: NTEU's Kelley Wants Parity

On January 31, 2012, the leader of the National Treasury Employees Union (NTEU) called on Congress to approve the S. 1034 – Commuter Benefits Equity Act of 2011, which would permanently establish parity between the parking and mass transit portions of the employee transportation benefit.
Tax

CFOs speak out on economy, health care, wages, and benefits

In a national biannual survey of U.S. Chief Financial Officers and senior comptrollers conducted by Grant Thornton LLP, 54% of respondents say the best way to reduce the U.S. federal deficit is to reduce spending.
Practice

Year one, ObamaCare report card shows health care costs rising

As health care reform marks its one-year anniversary, a new Deloitte report reveals that consumers are spending $363 billion, or 14.7 percent more, on health care than traditionally reported in official government accounts.
Tax

New per diem rates for business travel reimbursement

If your company pays employees to travel, you need to know your options when it comes to reimbursing them for travel expenses.
Tax

New per diem rates released for travel expense reimbursements

The IRS has updated the rules for determining the amount of an employee's ordinary and necessary business expenses for lodging, meals, and incidental expenses while traveling away from home.