Retirement Plan Deadlines for April

April 1-  Required Minimum Distribtions (RMD’s) must be made to terminated vested participants who attained age 70 1/2 in or prior to 2011. April 2-  Form 1099-R, W-3 and W-2 must be filed electonically if not filed in writing prior to 2/29 April 15-  Excess deferrals and allocable income refunds must be made . April 15-  Extensions on any forms …

Whats happening in health care, by the numbers…

Most of my clients believe they live in the State with the highest medical premiums.  A recent study showed the most expensive states to actually be:  1-  New York ($15,120 for annual family coverage) 2-  Rhode Island 3- Connecticut 4-  Florida 5-  New Hampshire. I would have gotten number 1 right – that was easy.  The rest 2, 3 and …

Final Regulations Issued Regarding Summary of Benefits Coverage

 From Emerson Reids newsletter:     Print this Article | EmersonReid.com The Affordable Care Act (ACA) requires all group health plans, including grandfathered plans and self-insured plans, to provide participants and beneficiaries a summary of benefits and coverage (SBC).  The effective date for compliance with the SBC requirements under the ACA was delayed pending further guidance (proposed regulations had been …

New York Insurance Department to Scrutinize Health Insurance Rates

From the Washington Bureau, Life Health pro, By Arthur D. Postal February 15, 2012 The New York Insurance Department is stepping up its scrutiny of health insurance premium rates, saying it has launched a broad probe into the accuracy of the data used by insurers and health maintenance organizations to request rate increases. The on-site audits will be of health insurers …

Court Finds 401(k) Loan Payoff Frees Income to Pay Creditors

The most interesting part about this is that it even came up… Reeve February 16, 2012 (PLANSPONSOR.com) – A federal appellate court has found income that becomes available to bankrupt debtors after their 401(k) loans are fully repaid is “projected disposable income” that must be turned over to the trustee for distribution to unsecured creditors.  The 6th U.S. Circuit Court …

Can Comedy Central release Stephen Colbert under FMLA rules?

I have included this, not because of its news-worthy value, but because it is such a clear explanation of the FMLA key employee provisions… Reeve Stephen Colbert Takes FMLA Leave to Care for Mom; Will His “Key Employee” Status under the FMLA Deny His Return to “The Colbert Report”? Posted by Jeff Nowak on February 19, 2012 According to Forbes …

Weekly Economic Update for February 20 2012

  WEEKLY ECONOMIC UPDATE     WEEKLY QUOTE “In times of rapid change, experience could be your worst enemy.” – J. Paul Getty     WEEKLY TIP If you are getting married and want to buy a home, consider setting up a wedding registry that collects money specifically for a down payment.     WEEKLY RIDDLE What item binds two people yet touches …

OBAMA’S PROPOSED 2013 BUDGET & THE TAXPAYER

How does the President want to modify tax rates?  The wealthiest taxpayers could be hit hard if the tax hikes in President Obama’s 2013 federal budget proposal become law. The good news is that the tax changes outlined by the President in mid-February may be softened by eventual bipartisan compromise. As currently proposed, they would impact the wealthiest Americans on …

SEC Announces New Target-Date Fund Rules

A look at several of the Securities and Exchange Commission’s proposed new rules for target-date funds, as explained by Mary Shapiro. By Ed McCarthy, CFP July 7, 2010 • Reprints The U.S. Securities and Exchange Commission (SEC) recently proposed new rules for target-date funds that aim to provide enhanced information to investors. Here are the key points from SEC chairman Mary …

Survey Finds Retirement May Be a Thing of the Past

Feb 16, 2012 — A survey shows 57% of workers age 60-plus said they will look for a new job after retiring from their current company. — CareerBuilder asked workers how soon they think they can retire from their current job; one in 10 (11%) respondents said they don’t think they’ll ever be able to retire. Other responses included: •  …