If you are divorced, or you advise clients who are divorced, this is important. The Pennsylvania Supreme Court has ruled that the federal Employee Retirement Income Security Act (ERISA) takes precedence over the Pennsylvania statute that removes divorced spouses as beneficiaries. What this means is that unless your employer’s plan contains a provision to the

                            "The power to tax involves the power to destroy."

                                                                         –Chief Justice John Marshall  in McCulloch v. Maryland 

Senate Majority Leader Harry Reid and other congressional Democrats have proposed a 91% tax on bonuses given to executives of AIG and other companies. The proposed legislation is a way to recover the $165 million paid