Ms. magazine  -- more than a magazine a movement

SIGN UP FOR MS. DIGEST, JOBS, NEWS AND ALERTS

FEMINIST WIRE NEWSBRIEFS

ABOUT
SEE CURRENT ISSUE
SHOP MS. STORE
MS. IN THE CLASSROOM
FEMINIST DAILY WIRE
FEMINIST RESOURCES
PRESS
JOBS AT MS.
READ BACK ISSUES
CONTACT
RSS (XML)
 
feminist wire | daily newsbriefs

August-18-06

Bush Approves Pension Tax Law with Benefits for Same-Sex Couples

President Bush signed the Federal Pension Protection Act into law yesterday, which includes two provisions that will greatly benefit same-sex couples and other non-spouse beneficiaries. The first provision allows the transferal of a deceased person’s retirement plan benefits into her or his domestic partner’s Individual Retirement Account without incurring taxes. Previously, the partner of the deceased had to withdraw the entire amount of the benefits in one lump sum and claim this amount as part of her or his taxable income. This often brought the survivor into the next tax bracket, forcing the survivor to pay higher taxes on the rest of her or his taxable income.

The second provision allows same-sex couples to draw on their retirement funds when faced with a medical or financial emergency. Married couples previously had this emergency access to each other’s retirement benefits.

Human Rights Campaign President Joe Solmonese commented yesterday on the importance of the legislation: “Today marks an important day for fairness under the law in America… In a challenging political climate, we persevered and helped to secure critical federal protections that will make difficult times for domestic partners a little easier.”

These provisions also include other non-dependent, non-spouse beneficiaries, including siblings, parents, and children.

Media Resources: Human Rights Campaign Press Release 8/17/2006; LA Times 8/18/2006; United Press International 8/17/2006


© Feminist Majority Foundation, publisher of Ms. magazine

If you liked this story, consider making a tax-deductible donation to support Ms. magazine.

 

 

Send to a Friend
Their
Your
Comments
(optional)


More Feminist News

10/17/2014 Student Activists Across the Country Are Fighting Extreme Anti-Abortion Ballot Measures - In Tennessee, North Dakota, and Colorado - three states deciding ballot measures aimed at restricting birth control access and outlawing abortion in the upcoming election - student activists are mobilizing to get out the vote. Members of student-led Feminist Majority Leadership Alliance group Vanderbilt Feminists at Vanderbilt University have been working tirelessly to get out the word about Tennessee's Amendment 1, which would take the right of privacy for reproductive rights out of the state constitution and give local legislators the power to restrict access to abortion, even in the case of rape, incest, or to save the life of the woman, and outlaw many forms of birth control, such as the IUD or the pill. . . .
 
10/17/2014 Boko Haram Claims Kidnapped Chibok Girls Will Be Released Monday - Nigerian President Goodluck Jonathan and Nigeria's military are reportedly negotiating the release of the nearly 300 young women and girls who were abducted by Boko Haram more than six months ago, ostensibly bringing an end to six months of activist efforts calling for their return. An adviser to President Jonathan, Hassan Tukur, told Voice of America that President Jonathan and the self-described "secretary-general of Boko Haram," Danladi Ahmadu, have been in talks in Saudi Arabia regarding the over 270 schoolgirls abducted by the extremist group in April. . . .
 
10/16/2014 Prosecutors Claim South Carolina's Stand Your Ground Law Doesn't Apply to Domestic Violence Survivors - According to South Carolina prosecutors, the state's Stand Your Ground law, which allows people to use force to defend themselves when faced with "great bodily injury," is an unfit defense for domestic violence victims who live with their attackers. . . .