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ARTICLE · 16 NOVEMBER 2004

Employee Benefits Update - IRS and SSA Announce Dollar Limits and Thresholds for 2005

Also discussed in this update: President Signs Tax Bill with Significant Non-qualified Deferred Compensation Changes/Immediate Action Required; Withholding Requirements Increased for Supplemental Wage Payments in Excess of $1 Million; New Legislation Excludes Incentive Stock Option and Employee Stock Purchase Plan Income from Social Security Wages; Modified Definition of Dependent Potentially Affects Benefit Plans; Automatic Rollover Rules Go Into Effect March 28, 2005 and Guidance Issued on Lo

United StatesStrategy

Originally published November 2004

Contents

  • IRS and SSA Announce Dollar Limits and Thresholds for 2005
  • President Signs Tax Bill with Significant Non-qualified Deferred Compensation Changes/Immediate Action Required
  • Withholding Requirements Increased for Supplemental Wage Payments in Excess of $1 Million
  • New Legislation Excludes Incentive Stock Option and Employee Stock Purchase Plan Income from Social Security Wages
  • Modified Definition of Dependent Potentially Affects Benefit Plans
  • Automatic Rollover Rules Go Into Effect March 28, 2005
  • Guidance Issued on Locating Missing Plan Participants under Terminating Defined Contribution Plans
  • 1. IRS and SSA Announce Dollar Limits and Thresholds for 2005

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