Social security in Mexico is a fundamental right. It ensures access to health care, medical assistance, protection of livelihoods, and necessary social services for individual well-being....more
Introduction The General Pension and Social Security Authority (GPSSA) recently introduced a significant change in the pension landscape through Federal Decree-Law No. 57 of 2023 on Pension and Social Security. This legal...more
The Internal Revenue Service recently announced 2024 dollar limits for qualified retirement plans (including 401(k) plans), deferred compensation plans, and health and welfare plans. Adjustments to certain limits are based on...more
If so, you may need to do so by December 1, 2023. Our Employee Benefits & Executive Compensation Group reviews the multiple year-end notices that defined contribution plans must issue to participants....more
Entrepreneurs and businesspersons interested in operating businesses in the State of Israel must be aware of the obligations imposed on them as self-employed dealers and employers, and cope with a variety of obligations to...more
I saw a recent article by Matthew Breunig, suggesting that instead of cutting Social Security, we should end the tax breaks for 401(k) plans. He claims that the tax advantage of IRAs and defined contribution plans is $371...more
Late last year, the IRS confirmed the widely expected cost-of-living adjustments to the various dollar limitations applicable to qualified retirement plans for 2022. Here are a few of the changes outlined in Notice 2021-61. ...more
The Senate Finance Committee released its draft tax provisions on Dec. 11 for the Build Back Better Act (BBBA). This draft is substantively similar to the House version that passed on Nov. 19, although Senate Democrats made...more
Federal agencies recently announced cost-of-living adjustments on Social Security taxable earnings and maximum benefits, limits on compensation and deferrals for retirement plans, and limits on health and welfare plans....more
Happy Holidays! Employee benefits limits for 2021 have been promulgated by the government. ...more
Please see full Chart below for more information....more
Cambodia’s adoption of the Law on Social Security Schemes dated November 2, 2019, will extend social security provisions to cover unemployment and roll out pension coverage to the private sector....more
Companies and their workforces are in unprecedented circumstances, with COVID-19 changing situations and advice on a frequent basis. In this checklist, we have set out below the key issues faced by employers across France,...more
Hiding in plain sight is a simple, low-cost, and effective tool to meaningfully increase retirement income: newbie retirees should live off their 401(k), individual retirement account (IRA), or other savings and delay taking...more
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2020. Many...more
The Internal Revenue Service (IRS) on November 6, 2019 announced the following cost of living inflation adjusted dollar limits applicable to tax-qualified plans and other benefit plans for 2020...more
The Internal Revenue Service and Social Security Administration have announced the benefit plan and employment tax limits for 2020. Certain limitations will not change for 2020 because they are not subject to annual...more
It’s that time of year again. On November 6, 2019, the Internal Revenue Service (IRS) announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2020 tax...more
On August 8, 2019, India’s new Code on Wages (Code) received the Presidential assent and was notified in the official gazette. The Code consolidates four major federal-level labor laws pertaining to wages paid by the...more
On March 29, 2019, Mexico’s government launched the Pilot Program to Register Domestic Workers to the Mandatory Social Security Regime, allowing domestic workers to have access to social security and health care benefits. ...more
El 29 de marzo de 2019, el gobierno de México lanzó la Prueba Piloto de la Incorporación de los Trabajadores Domésticos al Régimen Obligatorio del Seguro Social, permitiendo a los trabajadores domésticos el acceso a la...more
New Massachusetts Paid Family and Medical Leave - Beginning in 2021, all Massachusetts employers must provide their employees (and, in some cases, contractors) paid leave for family and medically related absences. Under the...more
On January 17, 2019, the official gazette published Ordinance No. 23/2019, which increased the work accident pensions for 2019 by 1.60%. Such increase has a retroactive effect, from January 1, 2019, onwards....more
In Notice 2008-59, the IRS provided certain limited exceptions to its previously stated general position that employers may not recoup any portion of the employer’s contribution to an HSA. Specifically, Notice 2008-59...more
This alert shows the new IRS and SSA 2019 Indexed Numbers For Employee Benefits Plans....more