Making the World a Better Place to Work

 
Latin America Legislative Reports
Hewitt Global Report: Latin America and the Caribbean Monthly Legislative Update
Hewitt's monthly updates summarize technical and legislative developments related to employment around the world.
 
Argentina
Hewitt Global Report: Argentina's Nationalization of Private Pension Funds
On October 21, 2008, President Cristina Fernández de Kirchner submitted to Congress a bill that would, effectively, nationalize the privately managed defined contribution pension funds (AFJPs).
 
Puerto Rico
Increase in Pretax Contribution Limits for Puerto Rico Qualified Retirement Plans
On August 7, 2008, Act 186 amended the Puerto Rico Internal Revenue Code of 1994 to increase the annual limitation on pretax employee contributions to Puerto Rico qualified retirement plans with a cash or deferred arrangement ("Section 1165(e) plans").
 
Impact of PPA on plans Qualified or Dual-Qualified in Puerto Rico
The effects of the Pension Protection Act of 2006 (PPA) on Puerto Rican plans depend on whether such plans are qualified under the Puerto Rican Internal Revenue Code (PRIRC) or dual-qualified under the PRIRC and the U.S. Internal Revenue Code.
 
United States of America
IRS Issues Guidance on Transfers From U.S.-Qualified Plans to Nonqualified Foreign Plans and Qualified Puerto Rico Plans
Revenue Ruling 2008-40 was published on July 28, 2008 by the Internal Revenue Service, which clarifies that a transfer of assets from a dual-qualified plan to a Puerto Rico-only qualified plan is treated as a taxable distribution to participants.
 
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Country Profiles eGuide™
Summaries of employment statutory requirements for more than 60 countries
 
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