HEART Act Requires Immediate Action by Qualified Plan Sponsors
1 Aug 2008
John J. Cannon III,
Jeffrey P. Crandall,
Kenneth J. Laverriere,
Doreen E. Lilienfeld,
Linda E. Rappaport,
Sharon Lippett
Congress recently enacted the Heroes Earnings Assistance and Relief Tax Act of 2008 (the “HEART Act”), which provides enhanced benefits under tax-qualified plans for participants performing military service and their beneficiaries. The HEART Act is effective as early as January 1, 2007. This memorandum also discusses the case of Solien v. Raytheon Long Term Disability Plan #5902 (“Solien”), which provides guidance for plan sponsors to ensure the enforceability of plan-imposed time limits for participant lawsuits.
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