Tag: Contribution Benefit Limits

IMHO: Cost of Living 'Adjustment'

A couple of weeks back, the Social Security Administration announced that, for the second year in a row—but only for the second time since 1975—there would be no cost of living adjustment (COLA) for Social Security recipients. 

 

SPD Language Not a Valid Plan Terms Change

A federal appellate court has ruled that a summary plan description (SPD) could not unilaterally grant a benefit plan administrator the right to make benefit eligibility decisions without having parallel language in plan documents. 

2007 Compensation and Benefits Limits Published

Last week, the Internal Revenue Service (IRS) unveiled the maximum benefit and contribution limits on qualified retirement plans for 2007, and, for most of the limitations, the increase in the cost-of-living index met the legal thresholds to trigger the changes.