2009-03-02
On February 17, 2009, President Obama signed  into law the American Recovery and Reinvestment Act of 2009 (ARRA) (P.L. 111-5), which contains a number of provisions that affect employers.

Billed as the largest stimulus package in recent history, ARRA encompasses tax incentives for individuals, families, and business; home mortgage relief; manufacturing recovery provisions; economic recovery tools; infrastructure financing tools; reinvestment in renewable energy; low-income housing; and state fiscal relief and Medicaid.

In addition, ARRA includes a number of provisions that will have an impact on employers' compensation and benefits practices.

The Hewitt Special Report linked to at right outlines additional details concerning key human resources (HR) provisions in ARRA, including:

• COBRA Premium Assistance for Involuntarily Terminated Employees and Their Families;
  
• Additional Health and Benefit Provisions, including health information privacy, health information technology, comparative effectiveness research, and transit benefit parity provisions;
  
• Tax and Employment Provisions Affecting HR, including various tax, unemployment insurance, H-1B, and whistleblower provisions; and
  
• New Executive Compensation Standards for financial institutions participating in the federal Troubled Asset Relief Program (TARP).

For More Information

In the coming weeks and months, additional guidance on these provisions is expected to be issued. Click here for guidance issued on the COBRA provisions under ARRA.

For the latest updates on ARRA, be sure to visit www.hewitt.com or contact your Hewitt Consultant.

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