Compliance October 20, 2005

CA Tax Conformity Bill Excludes HSAs

October 20, 2005 (PLANSPONSOR.com) - Despite early indications that a new California law would make the Golden State's tax laws conform to the federal tax code when it came to taxing of health savings accounts (HSA), the bill does not make that change.
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A note on the Web site of California Assemblyman Johan Klehs, General Assembly sponsor of AB 115, said the measure would better conform the state’s tax practices to those at the federal level in areas such as deductions for child care and other related expenses.

Klehs said the measure also includes tax credits for costs related to retrofitting refineries to produce ultra-low sulfur diesel fuel and increased opportunity for members of the Armed Services serving outside of California to qualify for the Child and Dependent Care Credit.

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However, the Klehs note specifically mentions HSAs as not being in step with the federal Internal Revenue Code.

The bill as it was approved by the Legislature and signed into law by Governor Arnold Schwarzenegger is  here .

Products October 19, 2005

Workscape Introduces Updated Version of Comp Mgmt Solution

October 19, 2005 (PLANSPONSOR.com) - Workscape, Inc. has introduced its updated compensation management application, OneForce /Compensation Planner 6.0.
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A company press release said the new solution makes it easier for managers to make effective compensation decisions that conform to corporate guidelines and drive higher work performance.

OneForce/Compensation Planner users can now plan for all pay elements—salary, bonus, and equity—and view any employee’s total pay history, on a single multilingual screen, according to the announcement.   Improved worksheets and graphical sliders enable quick calculations and comparisons against real market data.

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The new version is built on a 6.0 DHTML technology platform, instead of the former Java applet.   It is deployable in multiple languages and capable of supporting multiple currencies.  New reporting options provide HR managers and executives with pay trend reports in real-time and the application also provides full transaction audit trail and reporting to support compliance efforts.

In addition, Workscape has included OneForce/Configuration Manager, an HR administration companion tool that offers an easy-to-use “drag and drop” method for managing all types of data hierarchies – rules, eligibilities, jobs, supervisory roles, organizational relationships, and more – in the compensation planner application.

For more information, visit  www.workscape.com or call (888) 605-9620.

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