| The BenefitsLink Newsletter - Welfare Plans Edition |  |
October 8, 2001 - 6,365 subscribers
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Long-Term Care Insurance for Federal Employees: Implications for Private Employers (PDF)
Excerpt: "Although most employers are not likely to embark on a program of the size and magnitude of the new federal program, [FTLCIP, the federal program] offers many lessons, particularly for those employers that are considering a group long-term care insurance plan for their employees. This article examines many of the key issues con-fronting the government's Office of Personnel Management (OPM) and explores the steps undertaken thus far to ensure the successful implementation of the FTLCIP." (Milliman USA)
Evaluating the Return-on-Investment of Prescription Drug Costs (PDF)
Begins on page 8 of the 12-page newsletter. (Milliman USA)
District Court Applied Improper Standard In Reviewing Insurer's Denial of Disability Benefits
A federal district court improperly applied the deferential abuse-of-discretion standard in reviewing an insurer's denial of long term disability benefits because the insurer was operating under a potential conflict of interest. This was the ruling of the Ninth Circuit U.S. Court of Appeals in Regula v. Delta Family-Care Disability Survivorship Plan (No. 98-55853). (Spencernet)
Senate Bill Would Provide Assistance To Airline Workers In Wake of Terrorist Attacks
Sen. Jean Carnahan (Mo.), along with ten cosponsors, has introduced S. 1454, the Displaced Workers Assistance Act, which would provide assistance for workers who are separated from employment as a result of reductions in service by air carriers and airport closures caused by the September 11 terrorist attacks or ensuing security measures. Specifically, S. 1454 would allocate $3.75 billion to the Department of Labor to provide adjustment assistance benefits to eligible employees. (Spencernet)
Have a Health Insurance Plan in Place Before Taking Early Retirement
Excerpt: "At 65, people are eligible for the federal Medicare program or, in some areas, Medicare HMOs. But if you retire before that age and look for medical insurance as an individual, hope that you are healthy and young." (St. Petersburg Times)
Another Question is Answered in the Stock Options, Restricted Stock and Other Long-Term Employment Incentives Q&A Column
I bought 10,000 shares of unlisted preferred stock of our company, and then got laid off. Could I ask the company to buy back my stocks? (BenefitsLink.com)
IRS/ASPA Los Angeles Benefits Conference Rescheduled for January 31-February 1, 2002
Excerpt: "Due to the tragic events of September 11th, the Los Angeles Benefits Conference, scheduled for September 13-14, 2001, was cancelled. In order to best meet the needs of our community, the 2002 Los Angeles Benefits Conference will be held on January 31-February 1, 2002. The Hilton Universal City & Towers will host the event. The program and speakers will be very similar to the cancelled conference, but will be updated to reflect guidance under EGTRRA." (ASPA)
A Guide to Nonqualified Deferred Compensation Programs (PDF)
Begins on page 4 of the 12-page newsletter. (Milliman USA)
Employer-Sponsored Benefits In the Wake of Terrorists' Attacks (PDF)
4 pages; USERRA information and more. (Milliman USA)
Some Firms Expand Military Leave Policies Beyond Legal Minimums
Excerpt: "Dominion will make up the difference for as much as six months between his pay as an assistant in customer credit service and his military pay as a ship's serviceman. Before, the energy company made up the difference for only two weeks. The extension is for all full- and part-time employees." (Richmond Times-Dispatch via IFEBP)
Compensation Trends in Turbulent Times
Excerpt: "Despite an uncertain economy, employers must move ahead with compensation plans and budgets. In this article, we review the business climate and the elements of compensation most likely to be affected by it in the short term. We'll close with some recommendations for improving performance management and allocating scarce compensation." (Aon Consulting)
Economic Downturn Casts New Light on Stock Options
Excerpt: "When the economy was humming, stock options were one of Silicon Valley's shining, and seemingly unassailable, innovations. But the economic downturn has exposed flaws that are forcing workers, employers and investors to re-examine how options are perceived and doled out." (San Jose Mercury News)
New Data Show Venture-Backed Companies Still Issue Options Broadly
New data provided to the NCEO by Advanced-HR, Inc., a Saratoga, CA firm that provides detailed data on salaries and equity participation, finds that the widespread use of broad-based options continues to be very popular. The data set includes 275 companies, almost all of which are in the computer, e-commerce, and communications industries. Of 275 companies reporting data, 77% said they provide options to all employees, while 23% provide them only to select employees or groups. (The National Center for Employee Ownership (NCEO))
Newly Posted or Renewed Job Openings (Post Yours!)
| Project Manager | for The American Red Cross in DC, VA |
| Health and Welfare Business Analyst | for Ceridian in FL |
| ERISA Specialist | for ExpertPlan, Inc. in NJ |
| Implementation Specialist | for ExpertPlan, Inc. in NJ |
| Pension Administrator | for The Paragon Alliance Group in PA |
Newly Posted Conferences (Post Yours!)
| 2001 SPARK Forum | in FL on November 4, 2001 presented by SPARK (Society of Professional Administrators and Recordkepers) |
Newly Posted Press Releases
| Minnesota Public Sector VEBA formed (Public Agency Retirement Planning, Inc.) |
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Copyright 2001 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.
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