Defined Benefit pension plans are powerful vehicles for benefit solutions and tax savings. Defined benefit plans come in the form of a traditional defined benefit plan and a cash balance pension plan, also known as a hybrid pension plan.
The U.S. Department of Labor (DOL) has adopted the primary beneficiary test for determining whether interns of for-profit employers count as employees under the federal Fair Labor Standards Act (FLSA).
Under the Affordable Care Act, applicable large employers (ALEs)—generally those with at least 50 full-time employees, including full-time equivalent employees, in the preceding calendar year—must report certain information to their full-time employees and the Internal Revenue Service (IRS) about the health care coverage they have offered (if any).
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