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Miami

Cypen & Cypen
SPECIAL SUPPLEMENT
for
DECEMBER 12, 2008

Stephen H. Cypen, Esq., Editor

CONGRESS PASSES PPA TECHNICAL CORRECTIONS BILL:

On December 10, 2008, by unanimous consent, the House of Representatives passed the Worker, Retiree and Employer Recovery Act of 2008. The bill is designed “to make technical corrections related to the Pension Protection Act of 2006, and for other purposes.” The Senate, on December 11, 2008, also passed the bill by unanimous consent. The bill will now be presented to the President for his almost-certain signature.

According to National Conference on Public Retirement Systems, H. R. 7327 includes amendments and technical corrections such as the governmental defined benefit plan interest credit rate “fix,” clarification to apply the public safety retiree health exclusion to self-insurance plans and modification to tax treatment of certain state medical reimbursements to beneficiaries.

The entire seventy-nine-page bill can be accessed at http://waysandmeans.house.gov/media/pdf/110/hr7327.pdf . As more detailed analyses come along, we will pass them on to our readers.

Have a nice weekend.

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Items in this Newsletter may be excerpts or summaries of original or secondary source material, and may have been reorganized for clarity and brevity. This Newsletter is general in nature and is not intended to provide specific legal or other advice.


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