Book tip: Partial retirement/time value account: Handbook for personnel and payroll practice (review)

*by lawyer Dr. Johannes Fiala, MBA Financial Services (Univ. Wales), MM (Univ.), banker (IHK), certified financial and investment advisor (A.F.A.), lecturer for civil law and insurance law (Univ. of Cooperative Education)
Practical guide
Now in its 5th edition, this handbook provides an excellent overview of partial retirement, sometimes also referred to in practice as the “working time account”. The work has rightly earned its place as a classic and standard work for personnel and payroll practice. The legislator promotes partial retirement because he expects it to relieve the labour market. Partial retirement and working time accounts represent an alternative product to company pension schemes for some intermediaries/company consultants.
Works information: Nimscholz/Oppernmann/Ostrowicz: Semi-retirement Publisher: Datakontext (2006) ISBN: 3-89577-382-4
Labour and social security law
The focus is on employment and social security law, including the calculation of employer benefits. In addition, tax law and subsidies from the Federal Employment Agency are presented. The manual helps with daily accounting practice by providing checklists and a questionnaire to summarize essential core regulations. It also provides the intermediary with the core knowledge for discussions with employers and their recruiters.
For companies and tax consultants
Numerous models for partial retirement or for working time accounts are offered on the market by financial service providers. Almost every professional software in the tax advisor’s office offers the tools for a practical implementation. Particularly for tax consultants, but also for the personnel department of such companies that carry out payroll accounting themselves, the work can also serve as a valuable reference work.
Issues related to insolvency and directors’ cases
The authors rightly point out that personal liability of the employer or the management can be considered if the credit balances are not properly protected against insolvency, §§ 823 II BGB, 8a ATG. However, this is not the main focus of the presentation – especially not in the special case that it concerns the value credits of managing directors. The work omits the special problems of managerial liability – the presentation concentrates on the mass of cases in question from personnel and accounting practice. Improved insolvency protection for the GGF and a brokerage commission can apparently only be achieved cost-effectively by integrating solutions from abroad, e.g. a trust (cf. www.usgermanlawyers.com ).
Bottom line:
A standard work for the daily practice of partial retirement, especially the accounting practice in the payroll office and with the tax advisor. The presentations of social law, labour law and social security law are up-to-date and well-founded.
(experten.de (14.06.2007))
Courtesy ofwww.experten.de.

Our office in Munich

You will find our office at Fasolt-Strasse 7 in Munich, very close to Schloss Nymphenburg. Our team consists of highly motivated attorneys who are available for all the needs of our clients. In special cases, our law firm cooperates with selected experts to represent your interests in the best possible way.


About the author

Dr. Johannes Fiala Dr. Johannes Fiala
PhD, MBA, MM

Dr. Johannes Fiala has been working for more than 25 years as a lawyer and attorney with his own law firm in Munich. He is intensively involved in real estate, financial law, tax and insurance law. The numerous stages of his professional career enable him to provide his clients with comprehensive advice and to act as a lawyer in the event of disputes.
»More about Dr. Johannes Fiala

On these pages, Dr. Fiala provides information on current legal and economic topics as well as on current political changes that are of social and/or corporate relevance.

Arrange your personal appointment with us.

Make an appointment / call back service

You are already receiving legal advice and would like a second opinion? In this case please contact Dr. Fiala directly via the following link.

Obtain a second legal opinion

(The first phone call is a free get-to-know-you conversation; without consulting. You will learn what we can do for you & what we need from you in terms of information, documents for a qualified consultation.)