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The Administration’s 2014 budget: provisions affecting retirement benefits

On April 10, 2013 the Administration released its 2014 budget (hereafter, the ‘Budget’). In this article we review sections of the Administration’s budget that affect company retirement plans: a proposed PBGC premium increase; a $205,000 annual ‘annuity cap’ on tax-favored retirement savings; a 28% ‘deduction cap;’ implementation of the ‘Buffet Rule;’ and Auto-IRAs. Increase in…Read More

Entitlement reform and retiremnt benefits

In this article we begin with a brief update on the current timing of coming ‘budget battles’ and then discuss the extent to which possible changes in Social Security rules, intended to reduce entitlement expenditures, may affect retirement plans. The current state of the budget battles So far this year, Congress has passed a fix…Read More