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 )

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.