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April 23 - 26, 2004 - 8834 subscribers
Today's sponsor: Employee Benefits Institute of America Inc. 


HSAs and More!
EBIA's Consumer-Driven Health Care & Fringe Benefits contains
comprehensive coverage of HSAs-- explaining the latest guidance
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(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
EEOC Rule Allows Employers to Reduce Benefits for Medicare-Eligible Retirees
Excerpt: "The Equal Employment Opportunity Commission on Thursday voted 3-1 to approve a final rule allowing employers to reduce or eliminate health benefits for retirees when they become eligible for Medicare coverage at age 65, stating that such cuts do not violate civil rights law on age discrimination, the New York Times reports." (KaiserNetwork.org)

EEOC Approves 'Erie County' Exemption
Federal anti-discrimination officials have approved an exemption from the Age Discrimination in Employment Act (ADEA) allowing employers to coordinate retirement health-care coverage with Medicare. (PLANSPONSOR; one-time free registration required)

Labor Unions Support EEOC Regulation on Retiree Health Benefits
Excerpt: "Labor unions are joining employer groups in support of a new rule that would let companies reduce or eliminate health benefits for retirees when they become eligible for Medicare.... Unions that represent teachers, police and firefighters and public employees favor the rule because those workers get early retirement and would be most affected if companies stopped offering benefits to younger retirees." (Washington Post; one-time registration required)

EEOC Says Health Benefit Rule Is Good for Retirees; AARP Differs
Excerpt: "The agency noted that a General Accounting Office study found that one-third of large employers and less than 10 percent of small employers offered retiree health benefits in 2000, compared with about 70 percent of all employers in the 1980s. But the AARP, which lobbies on behalf of millions of retirees, said the new rule will slash benefits for many retirees over 65." (Washington Post; one-time registration required)

AARP, Others Criticize EEOC Rule
Excerpt: "In response to reaction by retirees, EEOC Chair Cari Dominguez on Friday released a statement to 'America's Retirees,' the Post reports ... 'Unions, teachers' organizations, state and local governments and employers told us that the court's ruling would force them to cut back or eliminate their retiree health benefit programs' because of increasing health care costs, the statement said ..." (KaiserNetwork.org)

Study: Workers Should Stay Home When Sick
Excerpt: "Workers who come in sick cost their employers an average of $255 each per year, according to Cornell University labor researchers." (AP via USA Today)

Federal Government to Allow 5-State Drug Purchasing Pool
Excerpt: "The program was started by Michigan in 2002 pending the federal approval which was granted Thursday. The program requires states to adopt a list of drugs that doctors should use when treating low-income Medicaid patients. States then bargain together for discounts on the drugs." (AP via Washington Post; one-time registration required)

Chat Transcript for 'Health Care and Small Business: What's on Your Mind?'
Excerpt: "Fresh off her testimony before the House Small Business Subcommittee, Kate Sullivan, the Chamber's director of health care policy, discussed how health care issues in Washington affect your business." (U.S. Chamber of Commerce)

BusinessWeek Series Examines Health Care Issues in 2004
Excerpt: "BusinessWeek on Wednesday published a 5-article series called 'Election '04 -- Health Care' which examined several health care issues receiving political attention. Summaries of the articles appear below." (KaiserNetwork.org)

Opinion: Look Who's Pushing U.S. to Socialized Medicine
Excerpt: "When we finally get government-run health insurance, guess who will be to blame: business." (Jon Talton in the Arizona Republic)

10 Questions for Hillary Rodham Clinton
Excerpt: "The senator from New York answered readers' questions on health care." (New York Times; one-time registration required)

Opinion: Hillary Clinton Wants to Talk - But Not Listen - About Health Care
Excerpt: "Let's hope she learned from the experience, and will be open to listening as well as talking this time. Her new essay isn't promising. She claims to want a discussion, but dismisses consumer driven health as nothing more than shifting 'the costs, the risks and the burdens of disease onto the individuals who have the misfortune of being sick.'" (The Galen Institute)

Increased Use of Health Savings Accounts Could Increase Health Plan Deductibles
Excerpt: "'Widespread adoption' of health savings accounts authorized under the new Medicare law could 'drive up' health insurance deductibles for workers over the next two years, USA Today reports." (KaiserNetwork.org)

Wellness on the Web
Excerpt: "We did the heavy lifting for you by checking out dozens of diet and exercise Web sites. Here are seven that can help you keep to your healthful commitments and achieve your goals." (PC Magazine)

Overview: Supreme Court Holds That ADEA Does Not Prohibit Reverse Age Discrimination
Excerpt: "The U.S. Supreme recently held that the Age Discrimination in Employment Act (ADEA) does not support claims of reverse age discrimination. This is great news for employers who often condition eligibility for early retirement programs or retiree health programs on attainment of a specified minimum age." (BNA Tax Management)

Links to Items on Executive Comp, Benefits in General

Rulings Show How IRS Intends to Pursue Intermediate Sanctions Cases (PDF)
3 pages. Excerpt: "These rulings illustrate how the IRS finds weak points in an exempt organization's support for compensation paid to an executive, and then exploits that weakness to conclude that the compensation was excessive. Exempt organizations can learn several lessons from these rulings about how to build a stronger defense against intermediate sanctions risk for their executive compensation arrangements." (Gardner Carton & Douglas)

Overview: Mellon's Survey of Year-End 2003 Global U.S. GAAP Assumptions (PDF)
2 pages. Excerpt: "Mellon's Human Resources & Investor Solutions has released a survey of the year-end 2003 accounting assumptions for benefit plans that were used for U.S. GAAP disclosures by their clients. This For Your Information highlights the results of this survey." (Mellon's Human Resources & Investor Solutions)

Hewitt Federal Legislation Quick Guide Updated April 20, 2004
Excerpt: "Hewitt's Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law, regarding health and welfare benefit plans, retirement plans, and human resources and employment law. Click on the links below to learn more about pending legislation in each area. These files were updated on April 20, 2004." (Hewitt)

Overview: DOL Finally Issues Final Rule on White Collar Exemptions (PDF)
Excerpt: "On April 20, 2004, the U.S. Department of Labor ('DOL' or 'the department') issued its long-awaited final rule amending the regulations defining the 'white collar' exemptions under the federal Fair Labor Standards Act ('FLSA'), the law requiring the payment of minimum wages and overtime. The new regulations will be effective 120 days after their publication in the Federal Register, or mid- to late August, 2004. The new regulations make significant changes to the existing rules." (Jenkens & Gilchrist)

Overview: Department of Labor Issues First Major Overhaul of FLSA Rules in 50 Years
Excerpt: "These changes will take effect 120 days from the publication of the regulations in the Federal Register on April 23. Virtually all employers will need to review their existing job classifications and wage levels to ensure compliance with the new rules." (Hewitt)

Summary of Recent Senate Hearing on FASB Stock Option Proposals
Excerpt: "On April 20, a hearing was held in the Senate Governmental Affairs Subcommittee on Financial Management, the Budget, and International Security to consider the importance of FASB as an independent entity and to examine the economic and financial reporting consequences of expensing employee stock options." (American Benefits Council)

Summary of Recent House Hearing on FASB Stock Option Proposals (PDF)
3 pages. (American Benefits Council)

Newly Posted Events

An Overview of the Voluntary Fiduciary Correction Program and Delinquent Filer Voluntary Compliance Program
in Massachusetts on June 7, 2004
presented by International Society of CEBS - Greater Boston Chapter

Domestic Partner Benefits: Issues and Implications
Nationwide on April 29, 2004
presented by International Foundation of Employee Benefit Plans

Introduction to Flexible Benefits Plan Design & Administration Audio Conference
Nationwide on May 12, 2004
presented by Thompson Interactive, A Division of Thompson Publishing Group
Newly Posted Press Releases

Bull Market Boosts 401(k) Assets To Record Level, Reversing 3-Year Decline, Says New Spark Report
(RG Wuelfing & Associates)

ERIC Applauds EEOC Approval of Rule to Exempt Retiree Health Benefits from ADEA
(ERIC (ERISA Industry Committee))
Newly Posted or Renewed Job Openings
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