December 30, 2003 - 8,783 subscribers Today's sponsor: The John Marshall Law School Center for Tax Law and Employee Benefits (Click on company name or banner to learn more.) Spring 2004 Information Sessions Learn about the nation’s only LL.M. degree program in employee benefits law. 18-course curriculum includes: Pension, Profit-Sharing and 401 (k) Plans Executive Compensation Health and Welfare Benefit Plans ERISA Litigation Full- or part-time joint J.D./LL.M. programs available Information sessions on degree programs in tax law or employee benefits law: Friday, Jan. 9, from 5 to 6 p.m. Contact the Center for Tax Law and Employee Benefits at 312.987.2380 or visit our website. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) Fifth Circuit Permits Imposition of Constructive Trust to Enforce Plan Subrogation/Reimbursement Bombardier Aerospace Employee Welfare Benefits Plan v. Ferrer, Poirot & Wansbrough, P.C. (5th Cir. 2003). Excerpt: "EBIA Comment: With this decision, the Fifth Circuit becomes the second federal appeals court to hold that constructive trust is an equitable remedy under ERISA, following an earlier Seventh Circuit case ... and expressly rejecting contrary reasoning from the Ninth Circuit ..." (Employee Benefits Institute of America (EBIA)) Overview: Mental Health Parity Act Provisions of ERISA and PHSA Extended to December 31, 2004 Excerpt: "President Bush has signed legislation extending the Mental Health Parity Act (MHPA) provisions of ERISA and the Public Health Service Act (PHSA) to December 31, 2004." (Employee Benefits Institute of America (EBIA)) Overview: IRS Releases Initial Guidance on Health Savings Accounts (HSAs) Excerpt: "EBIA Comment: There are no surprises in this first official word on HSAs, but with January 1, 2004, looming large, it is nice to have something more to go on than the statute itself. Recognizing that more guidance will be needed, the IRS requests comments on seven unanswered issues ... We will look forward to detailed guidance on the more complex HSA issues, which the Treasury Press Release indicates is planned for the summer of 2004." (Employee Benefits Institute of America (EBIA)) Overview: Medicare Law Creates New Tax Shelter Excerpt: "In January, millions of people younger than 65 become eligible to set aside some pre-tax income in new Health Savings Accounts, or HSAs, then use those funds for health expenses either in the short term or in years to come. The program is expected to cost the federal treasury about $6.4 billion over 10 years and to offer the greatest tax benefits to the most affluent Americans." (The Oregonian) Links to Items on Executive Comp, Benefits in General Text of 2003 Form 5500, Instructions and Attachments Excerpt: "Each year, pension and welfare benefit plans generally are required to file an annual return/report regarding their financial condition, investments, and operations. The annual reporting requirement is generally satisfied by filing the Form 5500 Annual Return/Report of Employee Benefit Plan and any required attachments.... These Forms are Provided for Information Purposes Only; Not to be Used for Filing" (U.S. Department of Labor, Employee Benefits Security Administration) Overview: NYSE Guidance On Shareholder Approval Rules for Equity Compensation Plans (PDF) 4 pages. Excerpt: "On December 16, 2003, the New York Stock Exchange released guidance on the new shareholder approval rules applicable to equity compensation plans, which became effective on June 30, 2003." (Frederic W. Cook & Co., Inc.) Newly Posted Press Releases Gilsbar, Inc. Partners with The Offshore Group of South Louisiana to Provide Health Plan Administration (Gilsbar, Inc.) Newly Posted or Renewed Job Openings Employee Benefits Paralegal / Administrator for Iris Bashi Associates, LLC in NJ Handy Links:
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