Employee Benefits Headlines

Gathered from the web by the editors at BenefitsLink.com.
[Official Guidance] Text of IRS Notice 2008-98: Extension of Effective Date of Normal Retirement Age Regulations for Governmental Plans (PDF)
2 pages. Excerpt: "The [IRS intends] to extend the date by which a governmental plan must comply with final regulations on distributions from a pension plan upon attainment of normal retirement age, which were published in [2007] ('the 2007 final regulations'). Under the extension, the 2007 final regulations will be effective for a governmental plan (as defined in § 414(d) of the Internal Revenue Code) for plan years beginning on or after January 1, 2011. This notice does not change the effective date of the 2007 final regulations for a plan that is not a governmental plan or modify the relief previously provided in Notice 2007-69 . . . ." (authored by Internal Revenue Service)

[Official Guidance] Text of IRS/DOL/HHS Request for Information on Sections 101 - 104 of Genetic Information Nondiscrimination Act of 2008
December 9 deadline for comments. Excerpt: "1. To what extent do group health plans and health insurance issuers currently use genetic information, such as family medical history, and for what purposes? For example, is genetic information currently used for group rating purposes, or for purposes of a wellness program that otherwise complies with HIPAA's nondiscrimination requirements? 2. How do plans and issuers currently obtain genetic information (for example, through health risk assessments, the Medical Information Bureau, or other entities under common control)? 3. Under what circumstances do plans or issuers currently request or require an individual to take a genetic test? 4. Under what circumstances do plans or issuers currently ask for the results of a genetic test in order to make a determination regarding payment of benefits? What is the minimum amount of information necessary for a plan or issuer to make a determination under such circumstances? 5. What types of research do plans or issuers currently conduct or support using genetic tests?" (authored by Internal Revenue Service; Employee Benefits Security Administration; Centers for Medicare & Medicaid Services)

[Guidance Overview] Employee Benefit Changes Included in Financial Bailout Law
Excerpt: "The massive financial bailout law, H.R. 1424, enacted on October 3, 2008 includes a number of extensions of tax provisions due to expire. Provisions of H.R. 1424 and other new laws affect employee benefits, including an extension and expansion of the mental health parity rules, health coverage for college students on medical leave, and rules for bicycle commuting. The law also has several executive compensation changes targeted at affected financial institutions that will be covered in a separate WorkCite edition." (authored by McGuireWoods LLP)

[Guidance Overview] San Francisco Health Care Law Survives ERISA Preemption
Excerpt: "Two key observations support, in large part, the court's lengthy decision. First, the Ninth Circuit found the Ordinance does not require employers either to establish an ERISA plan or modify an existing ERISA plan in order to comply with its provisions. The court noted all employers subject to the Ordinance have the option to make payments directly to San Francisco to satisfy the minimum health care expenses spending requirement." (authored by Jackson Lewis LLP)

Impact of Economic Crisis on Your Pension Plans (PDF)
2 pages. Excerpt: "The economic crisis brought about by the credit crunch resulting from aggressive lending practices and the even more aggressive packaging of debt instruments will have an impact on corporate and other employers in many different ways. Here are some of the implications on employer-sponsored defined benefit pension plans." (authored by Findley Davies, Inc.)

The Erosion of Employer-Sponsored Health Insurance: Declines Continue for Seventh Year Running (PDF)
23 pages. Excerpt: "Even as employment-based coverage has declined, the share of Americans who receive coverage through private purchase (non-group market) has also declined. The safety net programs -- Medicaid and the State Children's Health Insurance Program (SCHIP) -- have kept millions of families insured when their employment-based benefits were lost." (authored by Economic Policy Institute)

48 Percent of U.S. Workers Target Age 67 for Retirement, According to a Survey Released by Sun Life Financial
Excerpt: "The data also showed that only 46 percent of those surveyed are 'very confident' they will have enough money to take care of basic living expenses at 67, and 28 percent are 'very confident' they will be able to take care of medical expenses." (authored by Workforce Management; free registration required)

[Guidance Overview] Towers Perrin U.S. Legislative Tracking Charts -- Retirement -- Updated October 7, 2008 (PDF)
13 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (authored by Towers Perrin)

[Guidance Overview] Towers Perrin U.S. Legislative Tracking Charts -- Human Resources -- Updated October 7, 2008 (PDF)
15 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (authored by Towers Perrin)

[Guidance Overview] Towers Perrin U.S. Legislative Tracking Charts -- Health and Welfare -- Updated October 7, 2008 (PDF)
23 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (authored by Towers Perrin)

EBSA Schedules Advice Rule Public Hearing
Excerpt: "The U. S. Department of Labor's Employee Benefits Security Administration (EBSA) has scheduled an October 21 public hearing on its proposed regulation for providing retirement plan investment advice." (authored by PLANSPONSOR.com; free registration required)

[Opinion] Tax Credits Would Move People Out of Group Plans and Into Individual Policies Where the Benefits Aren't As Good
Excerpt: "If you think that 'The Market' -- whatever market -- always works for the best, you'll love John McCain's version of health insurance reform. It uses the tax code to shove you toward individual policies (more 'choice!') and away from comprehensive, employer supported plans. The nonpartisan Tax Policy Center puts the cost of his proposed subsidies at $1.3 trillion over 10 years." (authored by Jane Bryant Quinn, Newsweek, via Physicians for a National Health Program)

The Case for Marking Public Plan Liabilities to Market
Excerpt: "State and local U.S. pension plans hold an estimated $3 trillion in assets, with market values regularly disclosed in plan financial statements. By contrast, public defined benefit pension liabilities are routinely reported at actuarial values which may differ substantially from market values. We propose that a more accurate way to value plan liabilities measures the present value of accrued benefits discounted at market interest rates for fixed income investments that are (or are nearly) default-free. We illustrate the difference between these measures for a set of public sector pensions using publicly available information." (authored by Pension Research Council; registration required to download fulltext of paper)

Thinking About Funding Federal Retirement Plans
Excerpt: "Most U.S. Federal retirement plans are now fully funded, but since plan assets must legally be invested in Federal securities, fund surpluses are used to reduce overall Federal budget deficits. As a result, current taxpayers are not charged with the cost of future Federal retirement obligations. Nevertheless, Federal rules do require the employing Federal agency to budget for current personnel's accruing liability of retirement promises. Therefore policy decisions regarding the number of Federal civilian and military personnel and the design of their retirement benefits may be made with a better understanding of the costs." (authored by Pension Research Council; registration required to download fulltext of paper)

States Use of 'Cafeteria Plans' to Provide Health Insurance
Excerpt: "In the past three years, several states are experimenting with a new use for an old idea, aimed at lowering costs for both employees and their employers. 'Section 125 cafeteria plans' were created by a 1978 federal law which amended the Internal Revenue Code. Designed as an optional feature for employers, cafeteria plans allow employees to pay for a variety of health care expenses without paying any federal tax on those charges. . . . As of mid-2008, at least 12 states had adopted a cafeteria plan approach into state-based health reforms, with a dual goal of keeping coverage available and affordable while expanding the numbers using commercial health insurance. " (authored by National Conference of State Legislatures)

[Guidance Overview] Hewitt Federal Legislation Quick Guide Updated October 8, 2008, for Retirement Plans (PDF)
2 pages. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding retirement plans. (authored by Hewitt Associates)

[Guidance Overview] Hewitt Federal Legislation Quick Guide Updated October 8, 2008, on Human Resources & Employment Law (PDF)
2 pages. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding human resources and employment law. (authored by Hewitt Associates)

[Guidance Overview] Hewitt Federal Legislation Quick Guide Updated October 8, 2008, for Health and Welfare Plans (PDF)
2 pages. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding health and welfare benefit plans. (authored by Hewitt Associates)

McCain's Tax Credit for Healthcare Raises Questions
Excerpt: "The centerpiece of the Republican nominee's health care program is a refundable tax credit of $2,500 for individuals and $5,000 for households. The credit would go to insurers, though participants could deposit any amount higher than the premiums into personal health savings accounts. McCain would tax consumers on the value of employer-paid health coverage. Employees are not taxed currently on those benefits. Democratic rival Barack Obama, whose health plan includes subsidies to low-income families having trouble getting employer-sponsored or publicly funded coverage, said Wednesday that McCain's plan is a tax increase." (authored by The Miami Herald)

Law Equalizes Coverage for Mental, Physical Care and Measure Could Expand Treatment Services
Excerpt: "The new law bars companies from setting higher co-pays or deductibles for mental health and substance abuse treatment. Plans also will be prohibited from lowering benefit levels or restricting the number of outpatient therapy sessions or hospital treatment days. And if a health plan allows out-of-network visits for the treatment of physical illnesses, it will also have to offer identical out-of-network coverage for mental health care." (authored by The Washington Post; free registration required)

Driving Productivity by Investing in Health 2008: Survey Results
Excerpt: "Hewitt's The Road Ahead: Driving Productivity by Investing in Health 2008 survey found that employers are beginning to develop long-term health and productivity strategies to tackle rising health care costs and improve employees' overall health. Employers are recognizing that their employees' health has a direct impact on the bottom line and it is more than a Benefit/HR issue -- it is a business issue." (authored by Hewitt Associates)

Total Retirement Income at Large Companies: The Real Deal 2008
Excerpt: "The Hewitt survey . . . examined the projected retirement levels of nearly 2 million employees at 72 large U.S. companies using actual employee data and behaviors. The study measured projected retirement income and retirement needs, and also quantified the impact of longevity risk, different employer plan structures, and gender. [The 5-page survey report is at http://www.hewittassociates.com/_MetaBasicCMAssetCache_/Assets/Articles/2008/Survey_Highlights_Total_Retirement_Income_0708.pdf.]" (authored by Hewitt Associates)

[Guidance Overview] Personal Liability Claims Based Upon Unpaid Plan Contributions Advance
Excerpt: "In difficult economic times, a case like Calemine resonates more than it would otherwise. Here, the plaintiffs obtained a judgment, but the defendant employers declared bankruptcy. Unpaid plan contributions lay at the center of the dispute. This recent opinion illustrates that judgments against the bankrupt employer may not be worthless after all." (authored by Health Plan Law blog by Attorney Roy F. Harmon III)

[Guidance Overview] Provisions of the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008
Excerpt: "Like current mental health parity rules, the new law does not require group health plans to provide mental health and substance abuse benefits. However, group health plans that provide such benefits must provide parity between mental health and substance abuse benefits and medical/surgical benefits. The [chart on the target page] shows the changes between existing and amended mental health parity law." (authored by Faegre & Benson LLP)

[Opinion] ERIC Files Comments on DOL Proposed Regulation on Investment Advice
Excerpt: "ERIC on October 6 submitted to the Department of Labor comments on a proposed regulation and proposed class exemption on investment advice. DOL on August 22 published in the Federal Register the proposed rule under the Pension Protection Act (PPA) along with the proposed class exemption allowing fiduciary advisers to provide investment advice to participants in 401(k) type plans and individual retirement accounts (IRAs). ERIC's comment letter addresses a number of areas of concern . . . ." (authored by The ERISA Industry Committee)

PSCA's Annual Survey of 401(k) and Profit-Sharing Plans Finds Increase in Automatic Enrollment
Excerpt: "The Profit Sharing/401k Council of America (PSCA) has released its 51st Annual Survey of Profit Sharing and 401(k) Plans, which provides up-to-date information on current practices and trends in profit-sharing and 401(k) plans. The survey reports on the 2007 plan year experience of 1,011 plans with 7.4 million participants and more than $730 billion in plan assets." (authored by Wolters Kluwer)

Financial Education Is Vital to Navigate Today's Tough Times (PDF)
3 pages. Excerpt: "More and more employees . . . are demanding financial education services at the workplace, and companies are answering their call. 'There are some highly intelligent, wise business leaders who recognize that basic financial education is good for the employees, and [the company's] bottom line,' says Thomas Garman, president of the Personal Finance Employee Education Foundation (PFEEF)." (authored by Investment Adviser via Financial Finesse)

[Guidance Overview] Improving Plan Diversification Through Reenrollment in a QDIA (PDF)
8 pages. Excerpt: "As a result of PPA, a new plan design strategy to improve portfolio diversification has emerged. Under this approach known as reenrollment, the holdings of current participants are transferred into the plan's qualified default investment alternative (QDIA), with the right to opt out available for participants who prefer to retain their existing asset allocations. Such a strategy has the dual benefit of improving diversification of plan assets and limiting fiduciary liability." (authored by The Vanguard Group)

[Guidance Overview] Industry Groups Seek Modifications to Proposed Fee Disclosure Regs
Excerpt: "The ERISA Industry Committee (ERIC), the American Society of Pension Professionals and Actuaries (ASPPA) and the Council of Independent 401(k) Recordkeepers (CIKR), representing plan sponsors, service providers and recordkeepers, have submitted comments to the Department of Labor (DOL) outlining the changes they seek to the regulations proposed on July 23, 2008 regarding the disclosure of plan and investment-related information to participants in participant-directed plans . . . ." (authored by Wolters Kluwer)

Employers around the Globe Climb on Wellness Program Bandwagon
Excerpt: "The number of employers outside of North America turning to workplace wellness strategies has nearly doubled in the past 12 months to 40% of those in Europe, Asia and Africa. A Buck Consultants news release about its study reported that the wellness programs are still most prevalent in North America where 82% of responding employers have them in their benefits packages." (authored by PLANSPONSOR.com; free registration required)

This Open-Enrollment Season, Beware of Out-of-Pocket Costs
Excerpt: "As companies head into open-enrollment season, when they let employees pick their plans for next year, many firms say they are reluctant to boost health-care premiums too sharply at a time when wages are stagnant. Instead, workers can expect to pay significantly more for such out-of-pocket items as deductibles, co-payments and other fees." (authored by The Wall Street Journal)

Lewin Group Analysis Predicts How McCain, Obama Health Care Proposals Would Affect Uninsured U.S. Residents
Excerpt: "The health care proposal announced by Republican presidential nominee Sen. John McCain (Ariz.) would reduce the number of uninsured U.S. residents by about 21.1 million by 2010, and the plan announced by Democratic presidential nominee Sen. Barack Obama (Ill.) would reduce the number by about 26.6 million, according to an analysis released on Wednesday by the Lewin Group, the AP/Houston Chronicle reports." (authored by Kaiser Family Foundation)

Treasury Expands Money-Market Guarantee Program
Excerpt: "The U.S. Treasury Department on Wednesday announced a technical correction that would permit additional money market funds to participate in its Temporary Money Market Fund Guarantee Program. Funds that have a policy of maintaining a stable net asset value or share price that is greater than $1.00 and had such policy on September 19, 2008, are now eligible to participate, provided the fund meets all of the original program requirements . . . . The enrollment deadline for funds that are now eligible as a result of this technical correction is 11:59 p.m. EST on October 10, 2008." (authored by PLANSPONSOR.com; free registration required)

[Guidance Overview] The Emergency Economic Stabilization Act of 2008 Extensively Regulates Executive Compensation; Leaves Many Unanswered Questions
Excerpt: "The Emergency Economic Stabilization Act of 2008 (the 'Act'), signed into law by President Bush on October 3, 2008, contains several provisions affecting executive compensation. Ambiguities in the Act, however, create questions as to the scope of the Act's provisions and permissible avenues of compliance." (authored by Littler Mendelson P.C.)

Social Security Recipients to Get Benefit Hike Soon, But Steep Costs Eat Up Checks
Excerpt: "Amidst all the volatility and uncertainty in the financial markets these days, one thing is definite: Come October 16, Uncle Sam will announce the cost-of-living adjustment for 34 million Americans who now receive Social Security benefits. Unlike in years past, however, that adjustment is expected to be among the largest increases in 25 years" (authored by MarketWatch)

[Guidance Overview] Massachusetts Tightens Employer Fair Share Contribution Testing and Filing Requirements (PDF)
3 pages. Excerpt: "The Massachusetts Division of Health Care Finance and Policy has adopted new regulations that change the employer fair share contribution (FSC) requirements under the state's health care reform law. The state has also increased the frequency of required employer FSC filings, and the Massachusetts Division of Unemployment Assistance has issued new regulations on the filing requirements. Hearings were held on the minimum creditable coverage requirements scheduled to become effective January 1, 2009, with revised final regulations expected by October 17, 2008." (authored by Buck Consultants)

[Guidance Overview] CMS Guidance on Health Plan Reporting Requirement (PDF)
2 pages. Excerpt: "The Medicare, Medicaid and SCHIP Extension Act of 2007 (MMSEA) imposes a new reporting requirement on group health plans that cover Medicare-eligible individuals. The Centers for Medicare and Medicaid Services (CMS) has begun to issue guidance on this new requirement, which becomes effective in 2009." (authored by Buck Consultants)

[Guidance Overview] Medicare Update: 2009 Premiums, New Marketing Rule Effective October 1; November 15 Deadline Reminder
Excerpt: "CMS finalized new marketing rules for Medicare Advantage and Part D Plans that go into effect no later than October 1, 2008, the beginning of the marketing year. The rules finalize six new marketing provisions and modify the 'file and use' process . . . ." (authored by Deloitte via BenefitsLink.com)

[Guidance Overview] IRS Clarifies Section 409A Calculation of Grandfathered Amount in Non-Account Balance Plans
Excerpt: "For taxable years after December 31, 2004, the grandfathered amount may increase based on 'reasonable actuarial assumptions.' Reasonable assumptions used under the plan as of December 31, 2004 – or assumptions used under a qualified plan whose benefits are part of the benefit formula of the plan – are presumed reasonable for purposes of determining the post-2004 grandfathered amount." (authored by Deloitte via BenefitsLink.com)

[Guidance Overview] Massachusetts Seeks to Expands Its Landmark Health Care Reform Law
Excerpt: "Under the Massachusetts health care reform initiative, which became law in April 2006, 439,000 residents of the Commonwealth have become newly insured. Slated to become effective in 2009 are provisions which will impose new minimum standards on the health insurance that Massachusetts residents are required to carry under financial penalty. The Commonwealth seeks to further expand the reform by widening the group of employers potentially subject to a 'fair share contribution' to the state fund." (authored by Deloitte via BenefitsLink.com)

[Guidance Overview] Financial Bailout Gives Life to Mental Health Parity Law (PDF)
3 pages. Excerpt: "The financial bailout bill signed by President Bush includes provisions that will require group health plans to provide greater parity between mental health benefits and benefits for other medical conditions. It also extends these parity requirements to substance abuse benefits." (authored by Buck Consultants)

[Opinion] The Problem With Limited Medical Plans
Excerpt: "Commentary: Some companies are scrapping their traditional plans altogether and replacing them with these limited offerings for full-time employees. That's where I see a long-term problem." (authored by Workforce Management; free registration required)

[Guidance Overview] Outline of Ninth Circuit's Decision Allowing San Francisco 'Pay-or-Play' Healthcare Law (PDF)
3 pages. Excerpt: "As states and municipalities increasingly look for creative solutions to the increasing cost of health care for the under- and un-insured, 'pay or play' mandates continue to grow in popularity. The resulting impact on employers is substantial. Employers that operate in multiple states find themselves subject to conflicting state and city statutes that require them to pay varying amounts for employee benefits and/or penalties to the state or city government. Similarly, plan administrators are subjected to different state reporting requirements, creating confusion within the plan's recordkeeping procedures." (authored by Proskauer Rose LLP)

[Opinion] How the Republicans Should Frame McCain's Healthcare Coverage Proposal
Excerpt: "To be a genuine alternative, Republicans should follow their own logic and make the ownership of private health insurance an entitlement. Fund the purchase of a basic health insurance plan completely, through a refundable tax credit, so every low-income American can afford insurance. Help consumers exercise their newfound choice of health plans by requiring the disclosure of comprehensive information on health costs and outcomes." (authored by The Washington Post; free registration required)

Automakers Not Requesting Additional Delays in Funding Payments to Union's Voluntary Employee Beneficiary Associations
Excerpt: "United Auto Workers president Ron Gettelfinger said Tuesday, October 7, that he hasn't been approached by the Detroit Three to allow additional delays in funding payments to the union's voluntary employee beneficiary associations. Gettelfinger said in Detroit that the UAW would do nothing to risk the integrity of the funds, promised by the union chief to last at least 80 years. The funds, which are to cover future UAW retiree health care costs, were established as a key part of the UAW's 2007 national contracts with General Motors, Ford Motor Co. and Chrysler." (authored by Workforce Management; free registration required)

Debit Cards Advance Cash for Health Bills
Excerpt: "Financial investment firm Edward Jones helps employees pay unexpected medical bills by advancing cash interest-free from future paychecks. The plan helps calm employees' fears of not being able to pay for high deductibles." (authored by Workforce Management; free registration required)

Retirement Plan Investment Committee Considerations in a Time of Extraordinary Events Affecting Financial Markets
Excerpt: "These are challenging times for investment committees, with dramatic market events affecting retirement plan assets and participants. Vanguard Institutional Strategic Consulting (ISC) has released [this] bulletin, with steps that can help investment committees confidently fulfill their fiduciary responsibilities during the current turbulence. The ISC bulletin spells out what to consider in oversight and monitoring plans, and provides process suggestions fiduciaries can undertake to monitor investments during times of unusual market volatility." (authored by The Vanguard Group)

Retirement Outlook and Policy Priorities: How the New President and Congress May Help Increase Retirement Confidence (PDF)
8 pages. Excerpt: "The Transamerica Center for Retirement Studies has conducted a special edition survey to gauge how retirement confidence has changed over the past year and to find out what Americans think the next President and Congress should focus on to help improve their ability to achieve a financially secure retirement." (authored by Transamerica Center for Retirement Studies)

Group Health Plans Have 1-2 Years to Comply With Expanded Mental Health Parity Act
Excerpt: "The MHPA provisions of the Emergency Economic Stabilization Act of 2008 (Pub. L. 110-343) require group health plans that offer both medical/surgical and mental health coverage to provide parity between the two in deductibles, copayments, coinsurance, out-of-network coverage and limits on the scope or duration of treatment. HIPAA's original MHPA requirements applied only to annual and lifetime dollar limits on coverage." (authored by Thompson Publishing Group Inc.)

[Guidance Overview] Final ERISA Regulations on Annuity Selection for Defined Contribution Plans (PDF)
2 pages. Excerpt: "The final regulations take effect on December 8, 2008. DOL simultaneously finalized its amendment of Interpretive Bulletin 95-1 . . . limiting the applicability of the so-called 'safest available annuity' rule to defined benefit plans effective as of the same date. (Interim guidance published in September 2007 provided the same result effective November 13, 2007.)" (authored by Sutherland)

[Guidance Overview] Detailed Summary of the Emergency Economic Stabilization Act of 2008 (PDF)
16 pages. Excerpt: "Section 111 – Executive Compensation and Corporate Governance. Section 111 provides that where troubled assets are purchased from an individual financial institution where no bidding process or market prices are available, and the Secretary receives a meaningful equity position in that financial institution, such financial institution must meet certain standards for executive compensation and corporate governance (additional executive compensation provisions are contained in Section 302 of the Act)." (authored by Seyfarth Shaw LLP)

[Opinion] Pension Rights Center Comments on Proposed Regulations and Class Exemption on Investment Advice (PDF)
4 pages. Excerpt: "The Department has issued a class exemption from the prohibited transaction rules for certain investment advice that goes well beyond the statutory exemption that is the subject of the proposed regulations. The exemption permits conflicted investment advice so long as the advice is preceded by investment recommendations generated by a computer model (similar to that described in the proposed regulation). Alternatively, the exemption permits advice so long as the compensation earned by the actual person giving advice (rather than the entity employing them) does not vary depending on the basis of any investment option selected by the participant. In our view, the potential for conflicted advice is even greater in these situations than in the more circumscribed statutory exceptions interpreted by the proposed regulations." (authored by Pension Rights Center)

[Guidance Overview] The Present and Future of Executive Compensation Regulation
Excerpt: "Perceived excessive executive compensation is one of Congress' primary concerns as a result of the current financial crisis. The final 'bailout' or rescue legislation contains a number of provisions affecting executive compensation. Moreover, in the current environment, these provisions may signify just the beginning of a new era in executive compensation regulation." (authored by Nixon Peabody LLP)

[Guidance Overview] Certain Tax Provisions of the Economic Emergency Stabilization Act of 2008 and IRS Guidance Relating to the Economic Crisis
Excerpt: "Specifically, the Act contains provisions that: provide special rules with respect to executive compensation paid by employers participating in the Troubled Assets Relief Program (TARP); treat certain sales of Fannie Mae or Freddie Mac preferred stock by financial institutions as giving rise to ordinary income or loss; prevent the deferral of certain compensation from 'tax indifferent' parties . . . ." (authored by Morgan, Lewis & Bockius LLP)

[Guidance Overview] Mental Health Parity, Other Health-Related Requirements Enacted (PDF)
2 pages. (authored by Milliman)

[Official Guidance] October 2008 Pension Funding Segment Rates
Generally for plan years beginning after 2007, the rates in the tables . . . apply for minimum funding requirements under section 430 of the Code. (authored by Internal Revenue Service)

[Official Guidance] IRS 30 Year Treasury Securities Rate Updated for September 2008
30 Year Treasury Securities Rate for September 2008: 4.27% (authored by Internal Revenue Service)

[Official Guidance] IRS Composite Corporate Bond Rate Table Updated for October 2008
Corporate Bond Weighted Average Interest Rate = 6.14 for October 2008 (authored by Internal Revenue Service)

CRS Report for Congress: Income and Poverty Among Older Americans in 2007 (PDF)
31 pages. Excerpt: "Just one-third of people age 65 and older, and fewer than one-half of elderly households, received income from a private or public pension in 2007. Among individuals age 65 or older who reported income from a government pension, median pension income was $16,629. Among recipients of private pensions, the median pension received in 2007 was just $7,200." (authored by Congressional Research Service, U.S. Library of Congress)

[Guidance Overview] Update on 401(k) Fee Litigation
Excerpt: "Over the past several years, more than two dozen lawsuits have been filed relating to 401(k) plan fees and, more specifically, 'revenue sharing' arrangements with plan service providers. . . . In addition to the lawsuits against plan sponsors, lawsuits have been brought against 401(k) plan service providers. [The target page has links to an outline and chart of the litigation.]" (authored by Groom Law Group)

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