| BenefitsLink Welfare Plans Newsletter |   |
March 16, 2005
Today's sponsor: World Congress
(Click on company name or banner to learn more.)
Innovation in the Cost-Appropriateness of Behavioral Health & Wellness The Leadership Summit on Innovation in the Cost-Appropriateness of Behavioral Health & Wellness explores the costs of behavioral health to the Nation and the workplace. Stakeholders will discuss economic incentives and present successful cost-effective initiatives to provide quality, cost-appropriate behavioral health and wellness services. Featuring employer and government driven cost-reduction demands with health plan and provider collaboration the Summit showcases innovative behavioral health, pharma and wellness interventions and how to combine the best of both.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Overview: Medicare's Effect on COBRA
Excerpt: "The interaction of Medicare and COBRA results in some rather complex and frequently misunderstood rules regarding COBRA administration. This COBRA Tip first presents a short course on Medicare's basic rules, then explains how those rules impact COBRA administration." (BNA Tax Management)
Issue Brief: The Impact of the Erosion of Retiree Health Benefits on Workers and Retirees (PDF)
20 pages. Excerpt: "The changes that employers have made may not have a noticeable effect on trends in insurance coverage until a few years after the baby boom generation starts to retire and significant numbers of retirees discover the limits on or the costs of whatever retiree coverage they might have. Retirement behavior patterns may also change as employees nearing retirement age postpone their decision to retire upon learning that, without a job, they may not be able to obtain health ...." (Employee Benefit Research Institute)
Health Savings Accounts Taking Off in the Market – Despite Misgivings by Some
In this issue of Consumer Choice Matters: HSA Debates in Washington, DC; HSAs - 'Too Powerful to Ignore;' HSAs - 'Increasingly Attractive;' HSAs - 'Exceeding Expectations;' and, HSAs - Leading to Cash-Only Physician Practice (Galen Institute)
Links to Items on Executive Comp, Benefits in General
NYC Law on Equal Benefits Struck Down
Excerpt: "A state appeals court Tuesday struck down a law barring the city from doing business with companies that provide benefits for employees' spouses but not for their g.ay partners. The state Supreme Court's Appellate Division in a 5-0 ruling declared the equal benefits law illegal because it ``expressly excludes a class of potential bidders for a reason unrelated to the quality or price of the goods or services they offer.'" (AP via The New York Times; one-time registration required)
Nonqualified Deferred Compensation: The Effect of Section 409A Now and in the Future (PDF)
27 pages. Excerpt: "This booklet (published on January 7, 2005) is intended to help you understand the new law, the guidance that the Treasury Department and the IRS have issued so far, what questions remain and, most importantly, what considerations and actions you as an employer should be taking to ensure that your compensation programs remain effective and competitive, while complying with these new income tax requirements." (Deloitte's Global Employer Rewards)
IRS Issues Final Stock Option Settlement Terms
Excerpt: "A final announcement has been made by the Internal Revenue Service (IRS) regarding the settlement incentive for companies and executives who transferred stock options to avoid taxes." (PLANSPONSOR.com; one-time registration required)
Company Breached Fiduciary Duty by Sending Employee Incorrect Benefits Statements
Excerpt: "A federal appeals court has ruled that a company breached its fiduciary duty by providing incorrect pension statements to an employee, and also ruled that an equitable remedy must be paid to the worker. Although the US 4th Circuit Court of Appeals agreed with a lower court's ruling that the employer was not obligated to include years of service with the employer's subsidiary in calculating pension benefits, the appeals court did disagree with the ruling that no equitable relief ...." (PLANSPONSOR.com; one-time registration required)
Facts from EBRI: Total Compensation Costs in the Private and State/Local Public Sectors (PDF)
Pages 10-12 of 16 pages. Excerpt: "Total compensation costs for state and local governments were $34.72 per hour worked in September 2004, up from $22.31 in March 1991, according to data from the U.S. Bureau of Labor Statistics (BLS). Since March 1991, total compensation costs in the state and local government sector have increased at an average annual rate of 3.3 percent." (Employee Benefit Research Institute)
Text: H.R.1058 -- Employee Benefits Protection Act of 2005 (PDF)
13 pages. Excerpt: "To amend the Employee Retirement Income Security Act of 1974 to ensure that employees are not improperly disqualified from benefits under pension plans and welfare plans based on the misclassification or reclassification of their status." (U.S. House of Representatives via American Benefits Council)
About 60 Percent of Uninsured Adults from 2000 to 2003 Belonged to the 19-to-34 Age Demographic
Excerpt: "Today, Americans ages 19 to 34 represent the largest group of adults who lack health insurance, according to a recent report by the Kaiser Commission on Medicaid and the Uninsured. .... But sudden catastrophic health costs can sometimes bankrupt the uninsured, especially young adults just starting out. And when young people opt out of the insurance pool, it means higher premiums for everyone else." (Star Tribune; one-time registration required)
Overview: New Legislation Requires Employers to Notify Employees of Their USERRA Rights (PDF)
1 page. Excerpt: "With the passage of the Veterans Benefits Improvement Act of 2004, employers now have an affirmative obligation to notify employees of their rights regarding military leave and reinstatement. The new legislation amends the 1994 Uniformed Services Employment and Reemployment Rights Act which provides reemployment protection and other benefits for veterans and employees who perform military service." (Powell Goldstein LLP)
Overview: New USERRA Notice Requirement for Employers – Effective Immediately (PDF)
2 pages. Excerpt: "Paul Zorn of Gabriel, Roeder, Smith & Company, which is an NCTR member, summarizes here the new required notice of rights and duties under USERRA." (National Council on Teacher Retirement)
Executive Summary: The Principal Financial Well-Being Index: First Quarter 2005
Excerpt: "Each employee respondent was asked to identify what benefits they would most like their employers to offer, aside from those already offered. As Table 3 shows, consistently we have seen defined benefit plans, profit sharing/bonus plans, and flexible work schedules toping the list of those desired." (Principal Financial Services, Inc.)
Newly Posted Events
Are You Ready for Roth 401(k) Deferrals?
Nationwide on July 26, 2005
presented by McKay Hochman Co., Inc.
Are You Ready for Roth 401(k) Deferrals?
Nationwide on August 16, 2005
presented by McKay Hochman Co., Inc.
Are You Ready for Roth 401(k) Deferrals?
Nationwide on October 6, 2005
presented by McKay Hochman Co., Inc.
IRS Correction Programs
Nationwide on March 30, 2005
presented by McKay Hochman Co., Inc.
The Final 401(k) Regulations
Nationwide on September 12, 2005
presented by McKay Hochman Co., Inc.
The Final 401(k) Regulations
Nationwide on November 15, 2005
presented by McKay Hochman Co., Inc.
The Proposed 403(b) Regulations
Nationwide on April 6, 2005
presented by McKay Hochman Co., Inc.
The Proposed 403(b) Regulations
Nationwide on September 8, 2005
presented by McKay Hochman Co., Inc.
The Proposed 403(b) Regulations
Nationwide on November 14, 2005
presented by McKay Hochman Co., Inc.
Newly Posted Press Releases
CompWatch® 7.13 Streamlines Workers’ Comp Tracking
(Benefit Software Inc.)
Dorsa Consulting Expands Its Services to Nonprofit Employers, Adds 403(b) Practice
(Dorsa Consulting)
Newly Posted or Renewed Job Openings
ERISA Consultant
for New York Life Investment Management LLC
in MA
Actuary, Small Plans
for Pension Planning Consultants, Inc.
in NM
ERISA Sales Consultant
for American Pensions, Inc.
in FL, SC
Retirement Plan Coordinator
for American Funds
in VA
Client Relationship Manager
for PensionTrend
in MI
Health Insurance Account Manager
for Great-West Healthcare
in AZ, CO, FL
Pension Consultant/Administrator
for Third Party Administrators, Inc.
in NH
Benefits Specialist
for American Honda Motor Co.,Inc
in CA
Sr. Plan Administrator
for Karel-Gordon & Associates
in IL
Senior Benefits Consultant
for Hewitt Associates
in LOCATION OTHER THAN U.S.
Pension Administrator
for San Diego Pension Consultants, Inc.
in CA
Compliance Manager
for ABD Insurance and Financial Services
in CA
Senior Attorney - Benefits
for Pitney Bowes Inc.
in CT
Employee Benefits-Institutional Sales Officer
for Millennium Wealth Management division of Harleysville National Bank Corp.
in PA
Enrollment Specialists
for National Automobile Dealers Association
in VA
Client Services Representative
for National Automobile Dealers Association
in VA
Health Insurance Client Service Representative
for Great-West Healthcare
in MA, NC
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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