New taxes are coming Jan. 1 to help finance President Barack Obama's health care overhaul. Most people may not notice. But they will pay attention if Congress decides to start taxing employer-sponsored health insurance.

A committee suggests that current and former state workers be allowed to move into a 401(k)-style plan as an optional alternative to fixed-benefit pensions.

The sponsors of a new proposal to fix Illinois' pension crisis say the plan would save the state $2 billion and reduce its unfunded liability by $30 billion next year figures they hope will improve the plan's chances at the state capital.

When January rolls around, plan sponsors need to know whether they are eligible for an audit and if they are, they need to submit an independent plan audit with their IRS Form 5500.