From wiki:
The section of the Internal Revenue Code that made 401(k) plans possible was enacted into law in 1978. It was intended to allow taxpayers a break on taxes on deferred income. In 1980, a benefits consultant named Ted Benna took note of the previously obscure provision and figured out that it could be used to create a simple, tax-advantaged way to save for retirement. Ironically, the client he was working for at the time chose not to create a 401(k) plan.My hunch is that the 906-page ObamaCare health care bill is filled with such nuggets. Maybe I will eventually have to add a "top ten" list of unintended consequences of the health care bill.
For now, this one may be most interesting.
Hold this thought: the official work week in France is defined as 35 hours. Any more hours than this and it is considered over time.
So, in the ObamaCare health care bill, how many hours define a full-time worker? 30 hours.
A couple of things.
To the best of my knowledge, there is no uniform US "rule" on what constitutes a full-time worker for pay or salary, and wiki seems to confirm that. With ObamaCare, it appears the US now has a standard definition for full-time employee. It may not be spelled out in that law, but it will eventually be sorted out in court. The 30-hour worker will take the matter to court: that more than just ObamaCare is relevant.
The second thing: if this ends up being the new legal standard for full-time employment, the US has a shorter workweek than France.
What a great country.
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