Today’s Federal Register is here.
“Federal tax relief on the way”: this article by Dave Copeland for the Pittsburgh-Tribune Review discusses how 21,000 Pennsylvanians will be eligible for the new health care tax credit–a 65 percent tax credit against health care payments for people between the ages of 55 and 65 who are receiving a pension from the Pension Benefit Guaranty Corporation. The article reports that in Pittsburgh, the tax credit could have a substantial impact, as retirees from both LTV Steel and Bethlehem Steel Corp. are potentially eligible for the tax credit. The tax credit was discussed here in an article by Deloitte & Touche at Benefitslink.com. You can also read about the credit on the IRS website here.
This article–“Nation’s largest pension fund targets executive stock options”–by Don Thompson for the Associated Press at KansasCity.com (Kansas City Star) reports that the investment committee of the California Public Employees’ Retirement System (“CALPERS”) on Monday set new standards for executive stock option plans it will support for the 1,000 largest companies in which the $130 billion fund invests its money. According to the article, CALPERS will only support plans if 5 percent or fewer of the stock options go to the company’s top five executives, and if the executives have to wait at least four years to cash in.