Jan 1, 2006 12:00 PM

By Susan Slater-Jansen, partner, Sonnenschein Nath & Rosenthal LLP, New York

The year 2005 saw a lot of legislative and Treasury Department action in the employee benefit area. This is nothing new. Since the Employee Retirement Income Security Act (ERISA) came into being in 1974, the laws and Internal Revenue Service's actions interpreting them, related to retirement plans and planning, have evolved continually. What never ceases to amaze me, is that, although the rules are meant to secure the retirement years of our increasingly aging population, much of the legislative and Treasury action actually penalizes the aging middle class. The past year was no different. Many new laws and Treasury decisions enacted in 2005 significantly benefit high-net-worth individuals — but have had the exact opposite effect on the working and middle classes.

This is not just a problem for the working and middle classes. Everyone eventually will have to foot the bill for a system that isn't working properly — or tolerate living in a country with increasingly glaring inequities.

Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
2010 Tax Act News	Industry Trends Surveys

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Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
2010 Tax Act News	Industry Trends Surveys

E-Newsletter Signup

2011 Trust Glossary

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50 Years Ago This Month

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50 years ago, in May 1962, we featured articles such as: "Future of Canadian Trusteeship" by Arthur H. Mingay", "Training Trust Employees" by Ian M. Marr, "What is a Trust Officer?" by Eric J. Brown, and "Selling Services" by Donald I. Webb.

Conrad Teitell's Guide to Tax Benefits For Charitable Gifts

Click here to view the most up to date guide (September 2011)

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