BenefitsLink Welfare Plans Newsletter July 27, 2005 Today's sponsor: ALM (Click on company name or banner to learn more.) Complete Benefits Law Guidance from Law Journal Press The nation's workforce and health care system are constantly evolving and so are the legal issues. Law Journal Press helps you handle any benefits law question with up-to-date, authoritative books on all aspects of the field. Get legal and practical advice from leading experts on everything from COBRA to ERISA, "contingent" employees to family and medical leave, and more. Browse our product listings for detailed information and special offers. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) Local Government Retirees Get Sweet Deal on Health Insurance Excerpt: "Cash-strapped local government is spending more than $60 million a year on health care premiums for thousands of retirees, a lucrative perk that disappeared a decade ago in most private companies." (RedNova.com) Reinsurance: How States Can Make Health Coverage More Affordable for Employers and Workers (PDF) 30 pages. Excerpt: "State-government-provided reinsurance -- essentially, insurance for insurance companies -- can relieve health insurers of the risk of 'adverse selection' (disproportionate enrollments of individuals with extraordinarily high medical costs), particularly in the small group and individual markets. With such programs in place, insurers may significantly lower premiums, thereby making health coverage affordable for more people." (The Commonwealth Fund) Florida to Build Statewide Health Network Excerpt: "Florida is seeking federal funding to develop a statewide 'medical Internet' that would connect physicians, hospitals, insurers and others in the health care system, the Tampa Tribune reports. The project would be overseen by the not-for-profit Florida Health Information Network, which was created in March by Gov. Jeb Bush's (R) health information advisory board, ...." (California HealthCare Foundation) Letter to the Editor: Cutting Health Care Costs Excerpt: "The July 17 editorial 'Too Much Research' discounted the contributions that health insurance plans are making to the affordability of health care." (Karen Ignagni via The Washington Post; one-time registration required) Links to Items on Executive Comp, Benefits in General Text: IRS Notice 2005-58 -- § 457(b) Plans and Federal Credit Unions (PDF) 4 pages. Excerpt:This notice addresses certain income tax issues with respect to nonqualified deferred compensation plans maintained by federal credit unions, including whether a federal credit union can maintain an eligible nonqualified deferred compensation plan described in § 457(b) of the Internal Revenue Code (the 'Code')." (U.S. Internal Revenue Service) Notice 2005-58 Gives Federal Credit Union Employees News Regarding Deferred Compensation Plans Excerpt: "[T]he IRS recently released Notice 2005-58 that gives some guidance to credit unions. The Notice recognizes that the IRS is currently working on providing guidance concerning what is a 'governmental plan.' Until that guidance is released, the Notice provides certain conditions that are necessary for the federal credit union's deferred compensation plan to avoid being subject to Section 409A." (PLANSPONSOR.com; one-time registration required) Overview: New Rules for the Treatment of Non-Qualified Plans Maintained by Federal Credit Unions Excerpt: "The IRS has issued Notice 2005-58 to clarify the tax treatment of nonqualified deferred compensation plans maintained by federal credit unions and in effect on the date the Notice is published (expected to be August 15, 2005) ...." (Ice Miller) N.Y. Suit May Benefit G.ay Married Workers Excerpt: "Lambda Legal Defense has amended its complaint against a New York school district that balked at providing spousal benefits to a retired teacher and his husband, and the change could affect employees throughout the state." (PlanetOut) Newly Posted Events 19th Annual Cincinnati Employee Benefits Conference in Ohio on June 15, 2006 presented by Cincinnati Bar Association - Employee Benefits Committee All Day Summer Workshop in Ohio on August 18, 2005 presented by ASPPA Benefits Council of Cleveland ERISA Workshop in Maryland on September 28, 2005 presented by SunGard Corbel ERISA Workshop in Iowa on September 28, 2005 presented by SunGard Corbel ERISA Workshop in Kansas on September 29, 2005 presented by SunGard Corbel ERISA Workshop in New York on September 29, 2005 presented by SunGard Corbel ERISA Workshop in North Carolina on September 29, 2005 presented by SunGard Corbel ERISA Workshop in Connecticut on September 29, 2005 presented by SunGard Corbel ERISA Workshop in Texas on September 30, 2005 presented by SunGard Corbel ERISA Workshop in Pennsylvania on September 30, 2005 presented by SunGard Corbel ERISA Workshop in Missouri on September 30, 2005 presented by SunGard Corbel Newly Posted Press Releases Nels Carlson Joins Stanton Group as Senior Counsel (Stanton Group) Web Update Speeds Signup for EBRI Publications, Data (Employee Benefit Research Institute (EBRI)) Statement of the Pension Rights Center on the "National Employee Savings and Trust Equity Guarantee Act of 2005" (Pension Rights Center) Fiserv Investment Support Services Offers Professionally Managed ETF Solutions For Thirds Party Administrators (Fiserv, Inc.) U.S. Labor Secretary Elaine L. Chao Praises Senate Finance Chairman Grassley On Pension Reform Bill Markup (U.S. Department of Labor, Employee Benefits Security Administration) U.S. Labor Secretary Elaine L. Chao Applauds House Passage of Bush Administration's Plan To Reduce Number of Uninsured Americans (U.S. Department of Labor, Employee Benefits Security Administration) New WebCOBRA.com Pricing Plan Aimed At Small Employers, Insurance Brokers (Travis Software Corp.) AXA Equitable Launches Innovative 401(K) Product, Reflecting a Renewed Commitment to Pension Market (AXA Financial, Inc) BISYS(R) Announces Restatement and Provides Update on SEC and Internal Investigations (BISYS Group, Inc.) Pelosi, House Democrats Introduce AmeriSave, A Plan for Retirement Security (Office of House Democratic Leader Nancy Pelosi) Newly Posted or Renewed Job Openings Administrative Assistant for Retirement Advisory Services Corp in PA Pension Plan Consultant for Diversified Investment Advisors in NY ERISA Litigation Associate for Shook, Hardy & Bacon, LLP in MO ERISA Transactional Associate for Shook, Hardy & Bacon, LLP in MO Director of Administration and Compliance for The Allocation Company, Inc. in TX Handy Links: View Today's Active Message Threads Search BenefitsLink Using the Web for Employee Benefits Research (hypertext article) Employee Benefits Library Copyright 2005 BenefitsLink.com, Inc.; except that you may reprint this newsletter in full (including this sentence) without obtaining our permission. 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