One advantage of having a spousal option is that a wife at full retirement age can take her
benefit. Her husband can then apply for a spousal
benefit and receive half of her
benefit as long as he is also at full retirement age.
"As employers look to manage overall health and welfare
benefit costs, group disability is one
benefit that's not used by the masses, so it's an area where employers could look to scale back the overall
benefit to minimize costs.
The public
benefit concept gives new strength to the Charities Commission for England and Wales, the independent charities regulator, but could be troublesome in the relations between the commission and the charitable sector.
At-risk plans must assume employees eligible to retire in the next 10 years will retire as early as possible, and that employees will leave an organization at the time when the present value of their
benefits are at their highest.
Developers and owners should pay particular attention to these programs, because some of the
benefits can be utilized by the tenant and, as such, can be used as an inducement to bring tenants to the property.
Governmental entities will start accruing post-employment
benefits other than pensions (OPEB) over the next several years--a major change that, for some, will result in massive financial liabilities.
For example, while the IRS, has not provided a dollar threshold for meeting the de minimis requirement, Field Service Advice 200219005 indicates that the smaller in value and less frequently a particular
benefit is provided, the more likely it will qualify as de minimis.
It is important to note the image of lawyers as opportunists contriving to bilk disabled veterans and their survivors out of their meager government
benefits is insulting and demeans those who are drawn to the law as a noble calling.
For help, the AICPA Employee
Benefit Plan Audit Quality Center offers a centralized place to find resources to enhance firms' audit performance.
"I believe that long-term balance for Social Security can be achieved through modest revenue and
benefit adjustments that will begin to reduce the deficit within the next 10 years," she adds.
They are entitlements with guaranteed
benefits to everyone who is eligible, regardless of income or circumstances.
"What happens is that people tend not to look after their health until it is an emergency situation, and because it is acute care and not preventative care, the
benefit program takes a hard hit," says Pineault.
Following approval by the governing Council at its fall 2003 meeting, the Institute has moved ahead with creating three new audit quality centers focusing on areas of critical importance to the public interest: public companies, employee
benefit plans and governmental entities.
And many--if not most--of the purported
benefits are not quantifiable.
