A new summary available on the Council website, prepared by Davis & Harman LLP, summarizes the many pending legislative proposals affecting retirement policy, as well as those from prior sessions of Congress that may be relevant in the coming months.
With the U.S. Joint Committee on Taxation (JCT) now preparing its official "blue book" analysis of the Tax Cuts and Jobs Act, the American Benefits Council has reached out seeking clarification of the "written binding contract" grandfather rule, which makes changes to Internal Revenue Code Section 162(m).
WASHINGTON, DC – "We applaud Congress for approving a critically important two-year delay of the 40 percent 'Cadillac Tax' on employer-sponsored health coverage as part of the government funding bill," Council President James A. Klein said today.
Please contact your Member of Congress – and those with whom your company has a relationship – to urge their support for the Continuing Appropriations Act of 2018, which includes a two year delay of the 40 percent "Cadillac Tax" on employer-sponsored health coverage.
As part of the Council's 50th Anniversary Symposium, held on November 30 in Washington DC, we unveiled the results of a nationwide survey we commissioned with Public Opinion Strategies, a widely respected public polling firm. This survey of 800 American adults sought to measure attitudes about employee benefits – now and in the future.
WASHINGTON, DC – "Legislation introduced today by Representatives Mike Kelly (R-PA) and Devin Nunes (R-CA) is a helpful step for employer sponsors of health coverage," American Benefits Council President James A. Klein said today. "We thank them as well as Ways and Means Committee Chairman Kevin Brady (R-TX) for voicing support of the employer-sponsored system. We look forward to working with them to enact legislation fully repealing the harmful 40 percent 'Cadillac Tax' and the burdensome employer mandate."
In a December 6 letter to the U.S. House of Representatives Education and the Workforce Committee, the American Benefits Council voiced its support for a single, national, voluntary standard regarding paid time off.
"In keeping with the holiday season, the Council is thankful the tax reform measures passed by both the U.S. Senate and House of Representatives preserve our nation's successful, employer-sponsored retirement system," said James A. Klein, president of the American Benefits Council.
The Council has prepared a detailed Benefits Blueprint summary of the Trump Administration's October 12 Executive Order Promoting Healthcare Choice and Competition Across the United States, which directs the departments of the Treasury, Labor, and Health and Human Services to consider new rules regarding (1) the use of HRAs for purchase of individual coverage, (2) the expansion of association health plans (AHPs) and (3) expansion of short-term and limited-duration insurance.
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.