On January 14, 2022, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 22-01 (CL IR 22-01) announcing the applicable 2022 limits for Puerto Rico qualified retirement plans.
Washington Governor Jay Inslee announced that employers may wait to begin collecting premiums from employees for the new Washington Cares Act, while legislation is under consideration to formalize this collection pause.
On November 10, 2021, the IRS released Revenue Procedure 2021-45, which contains its annual inflation adjustments for over 60 tax provisions, including not only individual income tax rates and deductions, but also many employer-provided benefits.
In a recent opinion, the South Carolina Supreme Court unanimously agreed with the lower court’s dismissal of a lawsuit brought by four individuals to challenge Governor Henry McMaster’s decision to end federal unemployment programs early.
On July 9, 2021, the Pension Benefit Guaranty Corporation issued its interim final rule implementing the Special Financial Assistance (SFA) program passed in March 2021 as part of President Biden’s American Rescue Plan Act of 2021.
Washington enacted the Long-Term Services and Supports Trust Act, making it the first state in the country to adopt a mandatory, public long-term care insurance program for workers. This article highlights key aspects of the “WA Cares Fund.”