United States: IRS Announces Cost-of-Living Adjustments for Qualified Retirement Plans

In a news release (IR-2014-99) on October 23, 2014, the IRS announced the cost-of-living adjustments to the various dollar limitations applicable to qualified retirement plans for 2015.  As had been widely predicted, most of the limitations have been increased.
Limit on Compensation
The maximum amount of compensation that may be counted for plan purposes for plan years beginning in 2015 is $265,000, up $5,000 from the $260,000 limitation applicable in 2014.  This limitation applies for calendar […]

By | October 24th, 2014 ||

New Zealand: Strict interpretation of 90 day trial period continues

Since its inception in 2011, the 90 day trial period has been the source of substantial controversy, interpretation and analysis. Throughout this, a golden thread has emerged whereby the provisions are interpreted strictly and employers must be careful in exercising their rights to dismiss pursuant to the trial period.

This was highlighted recently in the decision of Hutchison v Canon New Zealand Limited where verbal notice of termination given within the 90 day trial period […]

By | October 23rd, 2014 ||

Australia: Winners and losers in the push to improve Employees Share Plans

It is fair to say that at this stage of the game, there are more losers than winners based on the Abbott Government’s long awaited Industry Innovation and Competitiveness Agenda. Sure there are some clear winners but for some key players in the economy, there is no relief currently in sight from long standing issues affecting share plans.
The winners
The clear winners are private “start-up” companies defined as unlisted, incorporated for less than ten years […]

By | October 23rd, 2014 ||