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December 6, 2007
IRS Issues Model 403(b) Plan
In July, 2007, the final 403(b) regulations were issued. These regulations require that all 403(b) plans be governed by a written plan document. Often, plans exempt from ERISA have not maintained a written plan document governing their programs.
November 5, 2007
Medicare Part D Notice: Don't Forget!
Delay of 409A Implementation
The IRS recently issued Notice 2007-86, which extends thedeadline for compliance with 409A rules until December 31, 2008.
PPA Notices Re-visited
Qualified Default Investment Alternatives
2008 Cost of Living Adjustments
2008 Retirement Plan COLAs
October 9, 2007
Health Care Reform and the 2008 Presidential Campaign
As the Presidential campaign begins to heat up, the candidates are sharpening their pencils in designing health care reform proposals. While it is far too early to surmise how these proposals might be sculpted, there are a couple nonpartisan websites that are following the candidate’s proposals, such as Kaiser Family Foundation’s health08.org and its list of resources, as well as the New York Times.
Medicare Premiums and Deductibles for 2008
The Centers for Medicare and Medicaid Services have released the Medicare premium and deductible amounts for 2008.
Time Now for New Massachusetts Filings by Employers
The Massachusetts health care reform law passed last year requires employers who employ 11 or more full-time equivalent employees in the Commonwealth to accomplish certain filings between October 1st and November 15th of each year. The first filing period is upon us.
409A Documentation Limited Relief
409A is a tax code regulating nonqualified deferred compensation. It was enacted in October 2004, and the time for compliance is upon us. Generally, nonqualified deferred compensation plans must comply with the 409A rules beginning January 1, 2008, or risk substantial penalties, both to participant and employer.
September 11, 2007
Dependent Child Conundrum
In the very recent past, and particularly in 2007, many State Legislatures have found it to be in their collective wisdom to amend State insurance laws as they relate to the definition of dependent child. In large part, the definition of dependent child, for health insurance purposes only, has been expanded. It appears that States are attempting to narrow the gap of their uninsured population. Young people, particularly those recently out of school, are a significant portion of the uninsured population. The theory goes that allowing these children to stay on their parents’ plan for longer period of time will reduce the uninsured population.