Employee Benefits


The Pension Benefit Guaranty Corporation (PBGC) raises to $3,579.55 per month (or $42,954.60 per year) the maximum amount it guarantees for retirees in underfunded single-employer, defined-benefit plans terminating in 2002—5.5% higher than in 2001. The Employee Retirement Income Security Act of 1974 requires the PBGC to adjust this amount annually based on changes in the factors that the Social Security Administration uses to calculate benefits and payroll taxes. ( www.pbgc.gov/news/press_releases/2001/pr02_07.htm )

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.