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October 16, 2003 - 8,548 subscribers
Today's sponsor: Thompson Publishing Group, Inc.
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“Complying With the Wage-Hour Requirements of the Service Contract Act” A 90-Minute Interactive Audio Conference – Thursday, October 23, 2003 * 2:00 p.m. Eastern Time During this 90-minute interactive presentation, employment law attorneys Dan Abrahams and Shlomo Katz will address the basic requirements of the SCA, to include: prevailing wages, fringe benefits, conformances, the Successor Contractor rule and price adjustments. They will also discuss how the SCA can/should affect contractors’ proposals to the government, and more. Register today!
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Full Text of Senate Anti-Genetic Discrimination Bill, S. 1053
On target page, click on link for 'Genetic Information Nondiscrimination Act of 2003 (Engrossed as Agreed to or Passed by Senate." (U.S. Congress, Library of Congress)
Overview: Genetic Nondiscrimination Bill Passes Senate Unanimously
Excerpt: "S. 1053, originally sponsored by Sen. Olympia Snowe, R-Me., would prohibit group health plans and insurers from denying coverage or charging higher premiums based on an individual's genetic information, or requiring genetic testing." (Thompson Publishing Group)
Maryland Municipality Decides to Provide Domestic Partner Benefits for Employees
Excerpt: "Greenbelt will extend employment benefits to live-in domestic partners of city employees, becoming the first locality in Prince George's to do so." (Washington Post)
Many States Saving Money with Disease Management Programs
Excerpt: "Medicaid recipients with chronic diseases are hospitalized less often and states save money under programs to monitor patient health closely, state officials told lawmakers Wednesday." (AP via Las Vegas Sun)
Massachusetts Lawmakers Ask FDA To Reverse Position on Prescription Drugs Reimportation
Excerpt: "FDA officials should reverse their current position on the reimportation of lower-cost U.S.-manufactured prescription drugs from Canada and develop a system to allow the practice, according to a letter to FDA Commissioner Dr. Mark McClellan from members of the Massachusetts congressional delegation, the Boston Globe reports." (KaiserNetwork.org)
Overview: California Law Mandates Play-or-pay Employer Health Coverage (PDF)
2 pages. Excerpt: "If S.B. 2 remains law and withstands legal challenges, employers already providing health benefits will face the loss of plan design, eligibility and pricing discretion.... There are other scenarios that could unfold if the law stands. Multistate employers would lose the ability to offer uniform national benefit plans. Insured and self-insured plans would need to be evaluated against California's mandated benefit requirements, including prescription drug coverage." (Towers Perrin)
Costs May Derail Plan for Retiree Health Benefits in Maryland County
Excerpt: "Proposals to enhance benefits for retired county employees are in jeopardy after Prince William officials learned how much they would cost." (Washington Post)
AARP and Business Ally for Medicare Prescription Drug Benefit
Excerpt: "Among the oddest of odd bedfellows these days must be AARP and the Business Roundtable. AARP lobbies on behalf of the elderly and all-too-soon-to-be elderly, while the Business Roundtable represents CEOs of 'leading corporations' with a combined revenue of $3.7 trillion. Somehow the two groups came together to push Congress to approve a drug benefit under Medicare." (Washington Post)
A Look at Long-Term Care Insurance
Excerpt: "Long-term care insurance (LTCI) is an emotionally charged but increasingly important insurance product that addresses the inevitabilities of infirmity and aging ... Without oversimplification, the author lays out the basic facts for individuals, families, planners, the insurance and other industries, and our society. The general premise is that well-informed choices made now mean peace of mind and more control of resources and circumstances later." (The CPA Journal)
Links to Items on Executive Comp, Benefits in General
11th Cir.: Heightened Standard Applies To All Decisions of Fiduciary Under Conflict of Interest
Excerpt: "A heightened standard of review should apply to both factual and plan interpretation determinations made by a fiduciary that is operating under a conflict of interest, rather than the deferential arbitrary and capricious standard, according to the U.S. Court of Appeals in Atlanta (CA-11)." (CCH News and Information Library)
Overview: Pennsylvania Commonwealth Court Abolishes Doctrine of Common Law Marriage (PDF)
3 pages. Excerpt: "Although the court's decision is still subject to appeal, it may ultimately have a significant impact on the benefit plans (which recognize common law marriage as the basis for spousal coverage) of all employers with operations in Pennsylvania." (Dechert LLP)
New IRS Chief Plans to Focus on Enforcement
Excerpt: "The new Internal Revenue Service commissioner, with an emphasis different from his predecessor's, says effective enforcement of the tax laws rather than further improving customer service would be the main focus of his administration." (New York Times; one-time registration required)
Microsoft Offers Details On Stock Option Program
Excerpt: "Microsoft employees will soon be able to trade in largely worthless stock options for cash under a new program detailed by the software company on Wednesday." (AP via USA Today)
Newly Posted or Renewed Job Openings
Senior Technical Analyst
for First Trust
in CO
Consulting Actuary
for New York Life Investment Management LLC
in MA
Plan Contribution Services Specialist
for ICMA Retirement Corporation
in DC
Pension Administrator
for Benefit Planning, Inc.
in CA
Retirement Plan Coordinator
for Independent Insurance Agents and Brokers of America
in VA
Plan Services Consultant
for American United Life Insurance Company
in IN
Administrative Assistant
for 401(k) Advisors
in CA
Newly Posted Conferences
(Post Yours!)
ABC's of 401(k) Plan Administration
in CA
November 20, 2003
Western Pension & Benefits Conference - Orange County Chapter
Newly Posted Press Releases
(Post Yours!)
2004 Standard Mileage Rates Set — 800,000 More Businesses Eligible
(Internal Revenue Service)
IRS Announces Pension Plan Limitations for 2004
(Internal Revenue Service)
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- Employee Benefits Library
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