China
Employers in China with a supplementary pension plan comprised of voluntary contributions to the local labor and social security authority must note that the bureaus are no longer permitted to accept these contributions.
Effective December 1, 2006, employees in Hong Kong may consult with or seek treatment from registered Chinese medical practitioners and be eligible for the sickness-related benefits established by the Employment Ordinance.
United States of America
On January 23, President Bush delivered his first State of the Union Address before a Democratic-controlled Congress and the nation.
A valuable summary of the key provisions of the Pension Protection Act of 2006
In an effort to address ongoing immigration issues, several states enacted immigration-related bills in 2006.
Guidance part of the new hybrid defined benefit plan requirements under the Pension Protection Act of 2006
The IRS is following up on provisions under the Pension Protection Act of 2006 on working retirement and asking for public comments on guidance it may issue in this area.
The U.S. Department of Labor (DOL) has issued interim guidance on diversification notices and pension benefit statements.
On December 20, President Bush signed the Tax Relief and Health Care Act.
The updated results of Hewitt's global survey of fiscal 2005 year-end accounting assumptions for employee benefit plans are now available. Twenty-one countries are covered in the survey.
What is the outlook for the AHIP proposal and what will the impact be for employers?
Final rules on employee benefit plan notices, elections, and consents provided via electronic media have been released by the IRS.
SEC finalizes rule requiring mutual funds with short-term trading redemption fees to have written information-sharing agreements with financial intermediaries.
FASB Statement No. 158 makes significant changes to the financial reporting requirements for postretirement benefit plans.
On August 8, 2006, the IRS issued final regulations under Internal Revenue Code section 411(d)(6) providing additional guidance in several areas of the anticutback requirements.
