UNEMPLOYMENT
INSURANCE / SOCIAL SECURITY
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A growing number of workers will be dialing, rather than driving, into work, according to a recent survey. More than two-thirds (69 percent) of executives polled said it is common for their companies' employees to work off-site. For details, see ¶2020H.
With companies facing an unprecedented talent shortage, as 25 percent of the American workforce nears retirement age, an increasing number of firms are considering implementing phased retirement programs, according to a survey of more than 140 mid-size and large employers by Hewitt Associates. For more information, see ¶2020I.
One-fourth of defined contribution plan sponsors surveyed by Mercer are not fully confident that the fees and expenses associated with their 401(k) plans have been properly disclosed. For details, see ¶2020J.
Employers plan to significantly involve their workers in long-term strategies to control prescription drug costs. This finding is among the results of a survey released today by Buck Consultants, an ACS company and one of the world's leading human resource and benefits consulting firms. For more information, see ¶2020L.
The IRS has released a revenue procedure that expands and streamlines the correction program for employee plans. For more information, please see ¶85H.
Victims of recent storms and flooding in Texas may qualify for tax relief from the Internal Revenue Service. Following Hurricane Dolly on July 22, the federal government declared Cameron, Hildalgo and Willacy counties a presidential disaster areas qualifying for individual assistance. For more information, please see ¶85A.
The IRS has issued directions for use by practitioners in making bulk requests for disaster relief. For more information, please see ¶85E.
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