Compliance October 31, 2005

Employer Settles USERRA Violation

October 31, 2005 (PLANSPONSOR.com) - S.O.G. Specialty Knives, Inc. (SSK) has agreed to a settlement with The Justice Department in a case alleging violation of the Uniformed Services Employment and Re-employment Rights Act of 1994 (USERRA).
Reported by

HR.BLR.com reports that the employee, a US Coast Guard reservist, claimed that SSK unlawfully discharged him when he was called to active duty in January of 2003.   Further, the employee alleged that the knife maker failed to re-employ him to a position of similar status and duties when he returned from active duty.

The Justice Department said that SSK voluntarily cooperated with its investigation of the USERRA complaint.   The company denies any wrongdoing, but has agreed to compensate the employee.

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The settlement must be approved by the US District Court for the Western District of Washington.

Compliance October 28, 2005

IRS Releases 2006 HSA Limits

October 28, 2005 (PLANSPONSOR.com) - The Internal Revenue Service released the 2006 inflation adjusted indexed numbers for tax benefits.
Reported by

Included are the new Health Savings Account (HSA) limits for contributions, and deductibles and out-of-pocket numbers for H.S.A. High Deductible Health Plans (HDHP).

The HSA maximum contribution for individuals increases to $2,700 from $2,650 in 2005, while the maximum contribution for families increases to $5,450 from $5,250.   The catch up contribution for those aged 55 and over increases to $700 from $600 in 2005.

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The maximum out-of-pocket for HSA HDHPs will be $5,250 for individuals and $10,500 for families in 2006.   The minimum deductible for HSA HDHPs will increase to $1,050 for individuals and $2,100 for families.

IR-2005-70 can be viewed  here .

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