Spectra Newsletters
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Jan 13 2010
Special DOL Rule Announcement! WASHINGTON — The U.S. Department of Labor today announced the publication of a final rule to protect employee contributions deposited to small pension and welfare benefit plans with fewer than 100 participants by providing a safe harbor period of seven business days following receipt or withholding by employers. more... |
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Dec 09 2009
Important COBRA Notice! December Terminations May Not Receive COBRA ARRA Subsidy! In a recent development, the Department of Labor and Internal Revenue Service have interpreted the American Recovery and Reinvestment Act of 2009 (ARRA) to read that employees with a COBRA start date of January 1, 2010 (or later) will not be eligible for reduced/subsidized rates. Why is this an important interpretation? Group health plans that provide coverage through the end of the month of termination (in this case December) have a COBRA start date of January 1, 2010. more... |
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Oct 12 2009
No Surprises, It’s Flu Season! National, state and local media coverage regarding the potential for a major H1N1 (swine flu) outbreak has put us all on notice that flu season is upon us. Flu, caused by influenza viruses, can cause mild to severe illness and can potentially lead to death. more... |
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Aug 13 2009
Client Alert — Utah Health Exchange Explained A result of HB 188 signed into law by Gov. Jon Huntsman Jr. in March, the Utah Health Exchange is our state’s approach to health system reform and marks the beginning of a defined contribution market and portable health coverage for Utah businesses. This is only the second health insurance exchange to be developed in the country. more... |
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Aug 01 2009
401(k) Trends: Automatic or Negative Default Enrollment As the U.S. economy remains under the microscope, financial advisors and behaviorists alike are postulating on how best to overcome the debt-buying culture that many Americans have become accustomed to. Cultural-change initiatives are being created to give Americans more confidence in their individual futures and retirement. more... |
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Jul 01 2009
Contractors Take Notice - HB 331 Takes Effect July1, 2009 As the forces behind the nation’s healthcare reform discussion take center stage, it is important that we track the incidental but meaningful changes that are already underway at the state level. In about a week, Utah H.B. 331 - Health Insurance Coverage in State Contracts (Dunnigan) takes effect. Under this new legislation, some state departments, including DEQ and the Department of Transportation, must require contractors to offer healthcare to the contractors’ employees and their families. more... |
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Jun 01 2009
Roth Versus Traditional 401(k): Which is Right for You? More plan sponsors offer the Roth 401(k) option today than ever before. Many employees are tyring to decide what option best fits their personal needs. It’s important to have an understanding of how the Roth verses traditional 401(k) plans work, including the pros and cons of each. more... |
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Apr 01 2009
Understanding U.S. Health Care Policy Changes There is little doubt that the coming year will bring more change in U.S. health care policy than at any time in the last 50 years. Spectra Management is eager to assist you in understanding these recently passed federal regulations. more... |
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Mar 01 2009
Economic Stimulus Bill Changes Your COBRA Administration COBRA coverage changed with the new American Recovery and Reinvestment Act (ARRA) of 2009, which the president signed into law on February 17, 2009. Title III of the ARRA states that eligible unemployed workers paying for their own health insurance through the federal COBRA program will now benefi t from a 65% federal subsidy for their monthly insurance premiums for up to nine months more... |
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Jan 01 2009
Valuable Saver’s Tax Credit. A Better Deal Than Tax Deduction Did you know that a tax deduction only lowers your taxable income but a tax credit actually lowers your tax bill by the full amount of the tax credit? A tax credit was established in 2002 to help low- to moderate-income individuals and families save for their retirement. Indeed, news reports estimate that 83 percent of Americans know very little about this Saver’s Tax Credit. more... |
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