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January 28, 2003 - 7,947 subscribers
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Bush to Push Association Health Plans
Excerpt: "President Bush is planning a major initiative to help small businesses obtain health insurance, but the proposal faces opposition from consumer groups and governors because the insurance would be largely exempt from state regulation." (New York Times; one-time registration required)
Analysis: California Extends Continuation Health Coverage Period
Excerpt: "The first part [of this Alert] provides information for employers with 20 or more employees (that are subject to federal COBRA) on how the changes to Cal-COBRA affect the continued health coverage they are required to provide. The second part provides information on Cal-COBRA for employers with 2 to 19 employees that are subject to Cal-COBRA rather than federal COBRA. The final part includes information for all employers [regarding possible preemption of Cal-COBRA by federal law]." (Cooley Godward LLP)
Chart: Circumstances in Which Section 125 Cafeteria Plans May Permit Mid-Year Election Changes
Originally published Sept. 16, 2002. Marvelous 8-page chart summarizes circumstances in which section 125 cafeteria plans may (but are not required to) permit mid-year election changes with respect to selected benefits. (Deloitte & Touche Human Capital Advisory Services)
Employment Records Prove Ripe Source for Identity Theft
Excerpt: "Job applications, personnel records and other employment data that should be safely filed in company offices or computers are instead being taken by thieves who use the information to steal workers' identities." (USA Today)
6th Circuit: 'Treating Physician' Rule Should Apply in ERISA Cases
Darland v. Fortis Benefits Insurance Co., No. 01-5387 (6th Cir. 1/22/2003). Excerpt from FindLaw.com: 'The 'treating physician' rule should apply in ERISA cases, and the district court should have deferred to the opinions of a long-term disability benefit claimant's treating physicians, absent substantial evidence in the record contradicting those opinions." (FindLaw.com)
Analysis: Court Distinguishes Knudson and Holds That Health Plan is Entitled to Restitution
Forsling v. J.J. Keller & Associates, Inc., No. 02-C-0234 (E.D. Wisc.) Jan. 15, 2003). Excerpt: "The court held that ... the plan ... was entitled to equitable relief under ERISA because the funds at issue ... were in the control of the insurance carrier, who was a party to the action, the funds had not been dissipated, and the plan was entitled to those funds pursuant to its terms. As such, the court held that ... the plan fiduciary ... was entitled to restitution with respect to the funds." (Lawrence & Russell)
Strategies Evolving to Tame Healthcare Costs
Excerpt: "If recent events are any indication, workers aren't dealing well with rising health insurance costs. Just ask any of the 17,000 General Electric employees who went on strike this month to protest the higher out-of-pocket health costs their employer is trying to pass on to them." (Houston Chronicle via Society for Human Resource Management)
Health and Welfare Federal Legislation Tracking Chart
Updated January 24, 2003. Excerpt: "All bills listed in the chart were newly introduced this year, although some of the bills address issues that were debated in the last Congress." (Towers Perrin)
President Bush's Solution to Medical Malpractice Issue Doesn't Address Entire Issue, Columnist Says
Excerpt: "The U.S. health care system is 'falling to pieces before our very eyes' and will 'continue to hurtle toward new crises unless our reform agenda is more aggressive,' Philip Howard, chair of Common Good, a legal reform coalition, writes in Wall Street Journal opinion piece." (KaiserNetwork.org)
Washington Post Examines Sen. Frist's Health Care Stances, Business Affiliations
Excerpt: "The Washington Post on Jan. 26 looked at how Senate Majority Leader Bill Frist's (R-Tenn.) positions on some health care issues are 'coming under fresh scrutiny' since his election to the leadership post last month." (KaiserNetwork.org)
Links to Items on Executive Comp, Benefits in General
Overview: IRS Announces 2003 Procedural Guidance on 'No Rule' Areas
Excerpt: "As part of the IRS's annual package of revenue procedures relating to its procedures for providing guidance on the federal tax laws, the IRS issued Revenue Procedure 2003-3, 2003-1 I.R.B. 113, to specify issues on which it will not provide letter rulings or determination letters to taxpayers. These 'no rule' areas include several issues relating to employment and employee benefit plans." (Deloitte & Touche Human Capital Advisory Services)
IFEBP Announces New Compensation Management Specialist designation Under CEBS Program
Excerpt: "A new specialty track in compensation management has been created consisting of two new courses in compensation along with the existing Course 8--Human Resources and Compensation Management. Students who successfully complete these three courses will earn the Compensation Management Specialist (CMS) designation.... These initiatives will further distinguish the CEBS designation as the premier professional credential for both employee benefits and compensation professionals." (International Foundation of Employee Benefit Plans)
Gearing Up for Active Duty
Excerpt: "On the eve of what might be the largest reserve deployment in U.S. history, companies vary widely in how they treat reservists. Some do the bare minimum, or pressure employees to leave the reserves. Others support reservists, and reap loyalty and recruiting benefits." (Workforce.com)
Tapes Available Soon from ABA Tax Section's 2003 Midyear Meeting
The employee benefits committee has 5 tapes available for purchase. (American Bar Association, Section of Taxation)
Opinion: FASB's Stock Options Blunder
Excerpt: "The Financial Accounting Standard Board wants U.S. companies to charge corporate earnings for the use of employee stock options. The exercise of options has an economic cost to shareholders, and, in the wake of recent corporate governance scandals in the U.S., FASB believes this cost should be recognized in a company's income statement. The problem with the FASB proposal is ..." (Jude T. Rich of Sibson Consulting, published on Forbes.com)
Authors Praise Effects of Tech Stock Options
Excerpt: "The high-tech industry's generosity with stock options in the 1990s enabled rank-and-file workers at the 100 largest Internet-based companies to cash in an average of $425,000 each in stock-option profits, according to new research." (San Jose Mercury News via The Seattle Times)
Newly Posted or Renewed Job Openings
External Wholesaler
for MassMutual Financial Group
in KS
External Wholesaler
for MassMutual Financial Group
in TX
Retirement Plan Administrator
for Alliance Benefit Group
in MN
Customer Relationship Management/Account Management
for Healthcare Business Intelligence Provider
in VA
Sales Assistant
for Smith Barney
in CA
Pensions/401(k) ERISA Compliance Specialist
for Dayton Group Ltd.
in NJ, NY
Newly Posted Conferences
(Post Yours!)
Form 5500 Update Program (1/2 day only))--offered throughout the country, various dates and locations beginning 3/20/03 thru 5/29/03
in AZ, CA, CO, DC, GA, IA, IL, IN, LA, MA, MI, MN, MO, MS, NC, NE, NY, OH, OK, PA, TN, TX, WA, WI
March 20, 2003
SunGard Corbel
Plan Disqualification and Correction Program (1/2 day only)--offered throughout the country, various dates and locations beginning 3/20/03 thru 5/29/03
in AZ, CA, CO, DC, GA, IA, IL, IN, LA, MA, MI, MN, MO, MS, NC, NE, NY, OH, OK, PA, TN, TX, WA, WI
March 20, 2003
SunGard Corbel
401(k) Update Program--offered throughout the country, various dates and locations beginning 3/21/03 thru 5/30/03
in AZ, CA, CO, DC, GA, IA, IL, IN, LA, MA, MI, MN, MO, MS, NC, NE, NY, OH, OK, PA, TN, TX, WA, WI
March 21, 2003
SunGard Corbel
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