1/1/2013 – Fiscal Cliff Deal Affects Wide Range of Benefit and Compensation Programs (Towers Watson)

After weeks of highly partisan negotiations, Congress adopted the American Taxpayer Relief Act (H.R.8) on January 1, 2013, to address key elements of the fiscal cliff — the combination of tax increases and spending cuts that kicked in with the new year. While the legislation’s most significant provisions include higher tax rates for high-income taxpayers and a payroll tax increase for working Americans, the law also includes important provisions affecting benefit and compensation programs ranging from Roth retirement plans to health care and qualified transportation benefits.

Read the full article at Towers Watson.

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