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March 21, 2003 - 8,072 subscribers
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Federal Courts Splitting On State Laws Prohibiting HMO Subrogation (PDF)
At page 2 of 6. Excerpt: "[W]e reported [in our last issue] that a Maryland federal district court refused to remove to federal court a plaintiff's state law complaint asking for a return of tort settlement funds taken by the plaintiff's HMO ... On March 4th, however, a federal trial court in New Jersey refused to return to state court a similar claim by insureds regarding New Jersey's collateral source rule, which is derived from a state supreme court case instead of a statute." (Jenkens & Gilchrist)
Analysis: Tenth Circuit Decision Affects Severance Plans That Require a Release of Claims
Excerpt: "In Cirulis v. UNUM Corporation ... the Tenth Circuit held that an employee did not have to sign such a release in order to get severance benefits, notwithstanding the plan's provision that a release would be required." (Faegre & Benson LLP)
Overview: GASB Drafts On Accounting for Other Postemployment Benefits by Governmental Employers (PDF)
9 pages. Excerpt: "These Exposure Drafts would establish standards of accounting and financial reporting for other postemployment benefit (OPEB) expenditures/expense and certain other related amounts in the financial reports of state and local governmental employers and OPEB plans. This [memorandum] discusses the key provisions of the two Exposure Drafts." (Buck Consultants via National Council on Teacher Retirement)
Overview: GASB Issues Proposed Accounting Rules for Retiree Health and Other Postemployment Benefits
Excerpt: "The Governmental Accounting Standards Board (GASB) recently issued two long-awaited Exposure Drafts: Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans and Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions. This Bulletin summarizes the key provisions in the Exposure Drafts, which will not become accounting requirements until GASB releases final Statements of Governmental Accounting Standards." (The Segal Company)
One Way to Support the Troops: Paying Reservists' Health Premiums
Excerpt: "The president's chief civil service adviser has called on federal agencies to shoulder the cost of health insurance premiums for employees in the National Guard and military reserves who have been called to active duty." (Washington Post)
Links to Items on Executive Comp, Benefits in General
Improving Stock Plans and Stock Awards
Excerpt: "Those who design and administer compensatory stock plans have an opportunity to learn from the past few years of volatile stock prices and litigation relating to stock awards. The suggestions below derive from these circumstances, recent litigation, and some common drafting regrets." (Mark Poerio, Esq. of Paul, Hastings, Janofsky & Walker, LLP)
Newly Posted or Renewed Job Openings
ERISA Attorney
for Retirement Administration / Consulting Firm
in IL
Retirement Plan Sales Rep
for Fringe Benefits Design, Inc.
in MN
Defined Contribution Jobs Available
for BenefitStreet
in CA
Client Relationship Specialist
for BenefitStreet
in CA
Newly Posted Conferences
(Post Yours!)
Telecommuting Issues in Wage and Hour Law
in
April 9, 2003
Thompson Publishing Group
Form 5500 - What do you want the Answer to be?
in PA
April 3, 2003
ASPA Benefits Council of Western PA
Introduction to Retirement Plans Seminar
in PA
May 20, 2003
McKay Hochman
Retirement Plan Insights Seminar
in NC
April 22, 2003
McKay Hochman
American Bankers Association Retirement Services Conference
in DC
June 18, 2003
American Bankers Association
Annual 5500 Workshop
in MA
April 16, 2003
Worldwide Employee Benefits Network
Newly Posted Press Releases
(Post Yours!)
Spring Summit: "Surviving-- Outwitting, Outplaying and Outlasting-- the Great Benefits Reef." April 8, 2003
(Los Angeles Chapter of Western Pension & Benefits Conference)
Labor Department Sues Defunct Money Centre For Failure to Pay Health Claims
(U.S. Department of Labor, Office of Public Affairs, Atlanta)
Georgia Insurance Commissioner Orders $1 Million Fine, Probation for Unum
(State of Georgia, Commissioner of Insurance)
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