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Treasury Rule May Encourage Employers To Add Disability Benefits, Consultant Says

May 14, 2014, Bloomberg BNA

Covington partner Richard C. Shea is quoted in this Bloomberg BNA article regarding final regulations the Treasury Department recently released providing guidance on the taxation of retirement plan payments for health and accident insurance, including disability coverage.

“The Treasury Department guidance included more provisions than what the employee benefits industry expected,” said Shea, “With regards to the disability exception, one of the unexpected provisions allows employers to increase contributions that match salary increases that an employee was expected to earn if he or she were not on disability leave. The regulations also assure employers that providing disability protection options will not have an adverse effect or cause tax complications for individuals in a plan.” 

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