WASHINGTON, DC – "We commend Congress for their commitment to the preservation of workplace retirement and compensation programs that benefit a broad range of employees," said Lynn Dudley, senior vice president, global retirement and compensation policy for the American Benefits Council.
Since the release of the original legislation, the Council had been in frequent communication with tax-writing committee staff to explain the likely consequences of these deferred compensation provisions on broad-based compensation programs.
On October 31, the U.S. Department of the Treasury and Internal Revenue Service (IRS) issued Notice 2017-67 (the Notice), providing guidance on the requirements for providing a qualified small employer health reimbursement arrangement (QSEHRA) under Internal Revenue Code Section 9831(d).
Please contact your Member of Congress – and those with whom your company has a relationship – to urge support on two important employee benefit tax matters: (1) Repeal the 40 percent "Cadillac Tax" on employer-sponsored health coverage. (2) Preserve pre-tax contributions to retirement savings plans.