Money Talk

JANUARY 4, 2024

Unclaimed Money - This is money held by state governments from a variety of sources including bank accounts, utility deposits, pension benefits, and insurance policies. Best wishes for a healthy, wealthy, and happy 2024. It may or may not be taxable when reclaimed. To find unclaimed funds, visit www.missingmoney.com.

Life Insurance 176

Life Insurance Retail Pension Benefit Taxes 176

Employee Benefits

MARCH 11, 2024

The Bank of England has given its more than 5,000 employees a 4% pay rise along with a 1% salary top-up deal for 2024/25 as part of its aim to retain staff in a competitive jobs market. As part of the negotiations with the union, the bank agreed a pay award for 2024/25 of 4%. It is a bigger increase than the 3.5%

Banking 102

Banking Pension Benefit Pension Insurance 102

Employee Benefits

MARCH 7, 2024

This will include the impact of the 10% national living wage increase and enhancement of its pension benefits, with staff now able to access up to 6% employer contributions. The bakery chain also implemented an 8% overall wage and salary inflation in 2023 and expects to make around an increase of around 9.5%

Bonuses 59

Bonuses Pension Benefit Manufacturing Pension 59

Employee Benefits

JUNE 10, 2024

Employees often take strike action over issues such as pay , health and safety, pensions, benefits, changes to terms and conditions, and union recognition. The UK has strict laws regarding strike action and it cannot take place if certain requirements have not been met.

Pension 69

Pension Pension Benefit Transportation Benefits Package 69

Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 25, 2024

of Shopmens Pension Plan v. 2024), the Sixth Circuit joined in part the Second, Seventh, and D.C. In reaching this conclusion, the district court did not apply the two-part Groetzinger test because it interpreted the Sixth Circuits decision in Pension Benefit Guar. In Local No. Art Iron, Inc. , 4th 923 (6th Cir.

Pension 40

Pension Pension Benefit Consulting Deductions 40

Empuls

JUNE 21, 2024

Defined benefit plans  This retirement benefit plan is calculated based on multiple factors, including salary and service. The plans are protected by federal insurance provided through the Pension Benefit Guaranty Corporation or PBGC.  This is applicable up to a maximum salary of $275,000 in 2024. 

401(k) 40

401(k) Retirement Plan Pension roth 401(k) 40

Employee Benefits

MARCH 4, 2024

From April 2023, the LTA charge was removed and pension benefits have been taxed as income with no additional penalty since then, but the formal abolition of the LTA required a raft of new legislation which is now complete, so this will take place from April 2024.

Pension 59

Pension Pension Benefit Employment Taxes 59