| BenefitsLink Welfare Plans Newsletter |   |
September 30, 2005
Today's sponsor: Chicago Consulting Actuaries
(Click on company name or banner to learn more.)
| Introducing RewardSmart from CCA! |
| Chicago Consulting Actuaries has developed an affordable and flexible total rewards statement for employers of all sizes. RewardSmart features:
For more information, call Mark Shields at 214-492-3204 or click on our link above. |
| (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) |
Not-So Flexible Spending Accounts: 'Use It or Lose It' Clause Makes Workers Wary
Excerpt: "Nearly every large employer, and many small ones, offer workers access to flexible-spending accounts that let them set aside pretax dollars for medical and child-care expenses. But fewer than 20 percent of workers use them. Why? Most don't want to risk forfeiting leftover money at the end of the year, estimated to average $100 per employee a year." (Crain's Chicago Business)
Missouri Employers Get Help with Health Insurance: Aimcare Offers Small Businesses Buying Power
Excerpt: "Missouri employers have a new product for employee health insurance that uses the power of group purchasing to offer cost-effective rates without red tape and restrictions. AIMCare will waive the health information typically required on each employee, according to Associated Industries of Missouri, or AIM, the state's leading business-trade association, which unveiled the plan Wednesday." (Springfield News-Leader)
Medicare Q&A Column Addresses Pres.cription Drug Benefits Through Former Employers
Excerpt: "Kaiser Medicare Q&A Column, Kaiser Family Foundation/Knight Ridder Tribune News: This week's column, prepared by the Kaiser Family Foundation and distributed by Knight Ridder/Tribune, addresses a question about Medicare pres.cription drug benefit coverage for Medicare beneficiaries who have such coverage through a former employer. [The column is at http://www.kff.org/medicare/QA/092905.cfm.]" (Kaiser Family Foundation)
Principal Financial Names 10 Small & Medium-Sized Businesses that Offer Better Benefits than Peers
Excerpt: "While rising costs are forcing many small and medium-sized businesses to slash employee benefits, workers at his company's West Des Moines, Iowa, office are eating in the cafeteria free of charge. They also get free parking, free coffee, a 39-hour work week and casual Fridays. Those are just a few of the benefits offered at GuideOne, which was recognized Monday as one of Principal Financial Group's top ten best companies nationwide for employee financial security." (Inc.com)
CalPERS-Led Partnership Seeks Improved Hospital Quality
Excerpt: "The California Public Employees' Retirement System is locking arms with other employers to push for greater quality and price transparency in hospitals in the state." (BenefitNews Connect)
Links to Items on Executive Comp, Benefits in General
Overview: IRS Issues New Proposed Regulations Under Section 409A of the Internal Revenue Code
Excerpt: "The Internal Revenue Service today publicly released its long-awaited proposed regulations under Internal Revenue Code Section 409A. The proposed regulations are scheduled to be published in the Federal Register on October 4, 2005." (Pillsbury Winthrop Shaw Pittman LLP)
Overview: Treasury and IRS Release Proposed Deferred Compensation Regulations
Excerpt: "The regulations are proposed to be effective commencing January 1, 2007. However, they can be relied on immediately for purposes of determining compliance during 2005 and 2006." (Faegre & Benson LLP)
Overview: Treasury Department Releases Second Deferred Compensation -- Section 409A -- Guidance Document
Excerpt: "The guidance is in the form of proposed regulations that outline the operational requirements around elections to defer compensation and the timing around distributions of deferred compensation. Companies will have until December 31, 2006 to amend their plans for compliance." (PLANSPONSOR.com: one-time registration required)
Communicating Regulation Changes to Employees and Retirees -- Medicare Part D
Excerpt: "[Chicago Consulting Actuaries provides] plan sponsors with a 'top ten' checklist of steps to keep in mind when communicating regulatory changes." (Chicago Consulting Actuaries)
Hurricane Katrina-Related Internet Links
Excerpt: "[The target page lists] websites related to Hurricanes Katrina and Rita with a focus largely, but not entirely, on Retirement Plans: ...." (McKay Hochman Co., Inc.)
Hewitt Federal Legislation Quick Guide Updated as of September 27, 2005
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." (Hewitt Associates)
Newly Posted Events
Form LM-10: Surprising New DOL Enforcement of Reporting and Disclosure Requirements
Nationwide on October 17, 2005
presented by Morgan Lewis & Bockius LLP
Form LM-10: Surprising New DOL Enforcement of Reporting and Disclosure Requirements
Nationwide on October 18, 2005
presented by Morgan Lewis & Bockius LLP
Health Plan Eligibility Audits: Getting Rid of the Ineligibles
Nationwide on October 20, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
Recent 409A Guidance Regarding Deferred Compensation Plan Requirements
Nationwide on October 14, 2005
presented by Morgan Lewis & Bockius LLP
Recent 409A Guidance Regarding Deferred Compensation Plan Requirements
in California on October 19, 2005
presented by Morgan Lewis & Bockius LLP
Newly Posted Press Releases
PSCA Announces Its 2005 Signature Awards Winners
(Profit Sharing/401(k) Council of America (PSCA))
PLANSPONSOR in Partnership with Whitmore Retirement Solutions Launches Women's Pension Exchange
(PLANSPONSOR)
Blue Cross And Blue Shield Association Consumer Survey Shows High Rate Of Satisfaction With HSAs, Cites Increased Reliance On Decision-Support Tools
(Blue Cross and Blue Shield Association)
Newly Posted or Renewed Job Openings
Account Executive
for The Principal Financial Group
in NY
Institutional Investment Consultant
for Charles Schwab
in AZ
DC Administrator in Hawaii
for Hicks Pension Group
in HI
ERISA Attorney
for BISYS Retirement Services
in MN
Client Relations Manager
for ProNvest Inc.
in GA
401(k) Compliance Analyst
for AccuRecord, Inc.
in NY
Testing & Reporting Specialist II
for Fidelity Investments
in MA
Full Time Retirement Plan Administrator
for Maryland based Third Party Administration firm
in MD
Plan Implementation Consultant
for Invesmart, Inc.
in CA
Client Services Analyst/ Administrator
for Mercer HR Services
in IL
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.
Published by:
BenefitsLink.com, Inc.
https://benefitslink.com/about.html
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151
Editor and Publisher: David Rhett Baker, J.D.
Housekeeping: