Call it a Christmas present for gay and lesbian couples. President Bush signed the Worker, Retiree and Employer Recovery Act of 2008 (WRERA) two days before Christmas. The new law makes it mandatory for businesses to roll over retirement benefits to a same-sex partner in the event of the employee’s death.
Previously, employers could decline and surviving same-sex partners would have to pay tax on the inheritance of the deceased partner’s retirement savings. Legally married heterosexual couples automatically avoid that tax penalty.
TPJ: Knowing Bush there must be some fine print somewhere. Too, I wonder if he signed the law with a pink pen or a feather pen?
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