The New Pensions Law and How You Might Benefit from it

The Federal Government encourages U.S. citizens to save for retirement by offering tax incentives. Substantial savings to an individual can result if he joins a qualified retirement plan. He also thereby reduces the change that he will be a burden society in his old age. But not everyone can join qualified (i.e., tax deferred) plan. Then who is eligible and who is not? The Employee Retirement Income Security Act (ERISA) of 1974 has changed the ground rules. Some of these rules were strongly supported by IEEE, others were proposed by IEEE and written into the Act as a result of testimony presented by IEEE.