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May 27, 2004 - 8903 subscribers
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Increases in Health Care Premiums Are Slowing
Excerpt: "Health insurance premiums are expected to rise up to 10 percent this year, well below the annual increases of 14 to 18 percent in the last few years but still more than double the overall inflation rate." (New York Times; one-time registration required)

California Assembly Approves Bill To Create Pres.cription Drug Reimportation Web Site
Excerpt: "The vote on the measure coincided with the approval on Wednesday of four other state Assembly bills on pres.cription drugs and followed the approval in the state Senate of eight bills concerning the pharmaceutical industry." (KaiserNetwork.org)

Thinking About Drug Price Controls
Excerpt: "Washington Post columnist Steven Pearlstein was online to talk about whether the government should study the cost-effectiveness of new medicines and then use that information to determine how much Medicare should pay drugmakers. In his column today, Pearlstein concludes: 'The question isn't whether we'll ration and manage, but who will do it and how. And sooner we start talking about it openly, the better things will turn out.'" (Steven Pearlstein in the Washington Post)

Termination of Employee For Excessive Absenteeism Did Not Violate the FMLA: Court
An employer did not violate the Family and Medical Leave Act (FMLA) when it terminated an employee for excessive absenteeism. This was the decision of the Eighth Circuit U.S. Court of Appeals in Pugh v. Copeland, et al. (No. 03-2724). Barry Pugh was an employee of the L.A. Darling Company. Mr. Pugh suffered from anxiety disorder, and he would miss work frequently. Mr. Pugh requested that certain of his absences be approved as FMLA leave, and L.A. Darling approved those requests. (Spencer Benefits Reports)

Opinion: ERISA Is Stacked Deck for Health, Disability Insurers
Excerpt: "ERISA allows insurers that provide insurance through employers to reject claims with virtual immunity." (Joan Ryan on SFGate.com)

Employers Shift Rising Health Care Costs to Workers: No Long-term Solution in Sight
Excerpt: "Despite concerns that an economic downturn would prompt employers to rein in rapidly rising health insurance premiums by radically reducing benefits, few have made dramatic benefit changes, according to findings from the Center for Studying Health System Change's (HSC) 2002-03 site visits to 12 nationally representative communities." (Center for Studying Health System Change)

Opinion: CBPP Study on HSAs Misses the Point
Excerpt: "It is counter-intuitive to believe that a policy which lowers the price of a service will reduce demand for that service. But that is precisely what authors Edwin Park and Robert Greenstein contend in a recent Center on Budget and Policy Priorities analysis of a tax deduction designed to encourage the purchase of health insurance." (HSA Coalition via the HSA Insider)

Links to Items on Executive Comp, Benefits in General

Panel Told Pittsburgh's Debt Burden Is Far Too Big; Pension, Healthcare Costs Daunting
Excerpt: "At a time when the board is looking for ways to cut costs, consultants reported that the city was severely underfunding its employee pension program by at least $18 million a year and had no money set aside to cover potential health care costs, which could reach $29 million a year for active and retired employees." (Pittsburgh Post-Gazette)

Overview: Pennsylvania Court Says Deferred Comp Currently Taxable (PDF)
Excerpt: "In a surprising and troubling decision, the Commonwealth Court of Pennsylvania recently decided in Ignatz v. Commonwealth of Pennsylvania that amounts deferred by an employee under an unfunded, non-qualified plan of deferred compensation are subject to personal income tax in the year earned." (Dechert LLP)

Companies Pursuing Major Changes in Executive Pay Strategies
Excerpt: "Many companies are in the process of implementing far-reaching changes in their executive pay strategies, with less emphasis on stock options and more emphasis on cash, restricted stock and performance plans, according to a new Towers Perrin study. The study also confirms that overall pay levels for executives continued to rise last year due to better company performance -- but at a slower pace than during the boom years of the 1990s." (Towers Perrin)

The Rumble Over Executive Pay: How Much Is a CEO Worth?
Excerpt: "In a sense, Spitzer is taking on the whole clubby system that keeps driving CEO pay higher. Boards stacked with cronies too often still rubber-stamp excessively rich packages." (Time Magazine)

Newly Posted Events

Understanding Qualified Plans and 401(k) Plan Update
in Wisconsin on August 18, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors

Understanding Qualified Plans and 401(k) Plan Update
in Georgia on November 30, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Newly Posted Press Releases

American Express Financial Education and Planning Services Publishes Guidebook on Workplace Financial Education and Advice
(American Express Retirement Services)
Newly Posted or Renewed Job Openings
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Benefits Manager
for VPC Group
in CA, DC, VA

Defined Contributions Operations Manager
for New York Life Investment Management NYLIM Retirement Plan Services
in MA

Qualified Retirement Plan Administrator
for BKD,LLP
in CO

Account/Client Services Manager
for Zenith Administrators
in CA, WA

Account Coordinator
for The Precept Group
in CA

Individual Consultant
for TIAA-CREF
in MA

Assistant Manager
for HEREIU Welfare-Pension Funds
in IL

Regional Benefits Services Manager
for HEREIU Welfare-Pension Funds
in IL

Clinical Specialist
for HEREIU Welfare-Pension Funds
in IL

NBI Lead Project Manager
for Transamerica
in CA

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