The Pension Simplification Act

Article Abstract:

The Pension Simplification Act, passed in summer 1996, allows nonprofit organizations to choose between 401(k) and 403(b) pension plans for the first time since 1986. Both of these salary deferral plans have advantages depending on the aims of the organization. Some of the advantages of the 401(k) plan are: the ability to get a determination letter, a 25% of salary limit, part-time employee exclusion and rollover contributions. The advantages of the 403(b) plans include: easier nondiscrimination rule compliance, no top-heavy rules and easier access to employer contributions.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Pension Fund Administration, Compensation and benefits, Nonprofit organizations, Salary reduction savings plans, 401K plans, Financial management

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Pending legislation

Article Abstract:

Bill Clinton and congressional Republicans are proposing similar medicare reforms which would allow for more managed care options and rework managed care reimbursement rules. Growth rates would be reduced through lowering reimbursement increases, raising premiums and supporting lower-cost services in both plans. However, controversy exists over Republican medical savings accounts and provisions to penalize individual insurance polices through higher premiums. State reform efforts are mostly policy changes with minimal budget impact.

Health Care and Social Assistance, HEALTH SERVICES, Direct Health and Medical Insurance Carriers, Hospital and medical service plans, Medical Care Insurance, Medical & Health Services, Medical care, Health insurance, Health care reform, Medicare, National health insurance

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