December 6, 2005 Today's sponsor: CCA Strategies (Click on company name or banner to learn more.)
Supreme Court to Provide Clarification of Equitable Relief Excerpt: "The US Supreme Court has agreed to review a case that will allow it to clarify the scope of 'equitable relief' or reimbursement available to Employee Retirement Income Security Act ( ERISA) plan fiduciaries when plan participants recover payments for health expenses from third parties." (PLANSPONSOR.com; one-time registration required) Overview: New Guidance for Employers on HSAs (PDF) 2 pages. Excerpt: "This Bulletin discusses Notice 2005-86 and its implications in ... detail." (The Segal Company) Overview: DOL Must Approve Waivers of FMLA Rights Excerpt: "The Fourth Circuit recently ruled that under the Family and Medical Leave Act (FMLA), a waiver, release or settlement of claims will be ineffective unless approved by the Department of Labor (DOL) or a court." (Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.) Court Rules Wrong Address Causes COBRA Notice Failure Excerpt: "The US District Court for the District of Minnesota ruled that an employer failed to meet its COBRA notice obligation when the notice was sent to an incorrect address." (PLANSPONSOR.com; one-time registration required) NBER Working Paper Abstract: Insurer-Provider Networks in the Medical Care Market Excerpt: "Managed care health insurers in the US restrict their enrollees' choice of hospitals to specific networks. This paper investigates the causes and welfare effects of the observed hospital networks." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext) A Widening Rift in Health Care Access and Quality: Growing Evidence of Economic Disparities Excerpt: "Data from the Community Tracking Study provide a valuable perspective from which to observe how economic disparities -- largely a function of different sources of coverage -- influence access to medical care in the United States. Many recent investments and initiatives are focused on affluent communities and are accessible mainly to people with employer-based or Medicare coverage." (Health Affairs) Enrollment in Wal-Mart-Sponsored Health Plan Increases Excerpt: "Wal-Mart Stores next year will add 70,000 U.S. employees to company health plans, with about one-third of those slated to enroll in a new low-cost plan announced in October, the Wall Street Journal reports." (Kaiser Family Foundation) Towers Perrin U.S. Legislative Tracking Charts-- Health and Welfare-- Updated November 30, 2005 (PDF) 29 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin) Links to Items on Executive Comp, Benefits in General GRS Insight -- September 2005 (PDF) 6 pages. The newsletter includes articles titled: IRS Proposes Regulations on 415 Limits; Achieving Good Pension Governance; and, Advantages of Trusts for Funding Retiree Health Care. (Gabriel, Roeder, Smith & Company) Major Changes in Store for Pension and OPEB Accounting (PDF) 3 pages. Excerpt: "The Financial Accounting Standards Board (FASB) voted unanimously on November 10 to start a comprehensive project aimed at redoing accounting for pensions and other postretirement benefits (OPEB).The first phase of the project, which is likely to result in changes to 2006 financial statements, will only affect the balance sheet. The second phase is likely to last for three or more years and will address measurement issues and the income statement." (Buck Consultants) Older Workers: Labor Can Help Employers and Employees Plan Better for the Future 60 pages. Excerpt: "Due to the growing importance of workers aged 55 or older, GAO examined: (1) areas of the labor market affected by the aging of the workforce; (2) factors that influence the timing of retirement; and (3) what employers are doing to hire and retain older workers. [Highlights of the report are at http://www.gao.gov/highlights/d0680high.pdf.]" (U.S. Government Accountability Office) 2005 Plan Year-End Planning Checklist for Advisors, Employer/Plan Sponsors and Fiduciaries Excerpt: "This article identifies year-end administrative, compliance and planning issues that require attention within the general timeframe indicated." (ERISA Expertise LLC) Employer Not Blocked from Correcting Benefits Level Excerpt: "A federal appeals court has tossed out a lower court ruling that an employer was blocked from correcting a miscalculated pension benefit level. The US 5th Circuit Court of Appeals ruled that while the Employee Retirement Income Security Act (ERISA) might block certain plan administration actions, that plaintiff Frank Mello had not sufficiently proven the legal theory of estoppel - the mechanism that would be involved." (PLANSPONSOR.com; one-time registration required) Hurricane Guidance Scorecard Excerpt: "The differences between the guidance for the Katrina Emergency Tax Relief Act (KETRA) and the IRS/DOL and PBGC guidance are important to understand." (McKay Hochman Co., Inc.) Deferred Compensation under 409A: Highlights from Proposed Regulations Excerpt: "This alert highlights selected issues from the proposed regulations and is intended as a companion piece to the action items featured in [the] alert Deferred Compensation Under 409A: Action Items." (Hodgson Russ LLP) Deferred Compensation under 409A: Action Items Excerpt: "Proposed regulations addressing the application of IRC § 409A to nonqualified deferred compensation have been issued. This benefits alert identifies those actions that must be taken before the end of 2005 and offers an action plan for 2006. " (Hodgson Russ LLP) Towers Perrin U.S. Legislative Tracking Charts-- Human Resources-- Updated November 30 2005 (PDF) 9 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin) Trucker Huss November 2005 Benefits Report (PDF) 6 pages. This edition includes articles titled: Continuing Notice Obligations under Medicare Part D; and, Two Recent Court Decisions Remind Plans to Exercise Caution in Handling Contested Benefit Claims. (Trucker Huss) Newly Posted Press Releases More Companies Implementing Health and Productivity Practices, Watson Wyatt and National Business Group on Health Survey Finds (Watson Wyatt) Letter To Congress Regarding EGTRRA Permanency - Thank You, Chairman Thomas (Profit Sharing/401(k) Council of America (PSCA)) Trustmark Mutual Holding Co., Charles Schwab and Alliance Benefit Group Unite To Bring Consumers More HSA Investment Options (TrustMark) Dallas-Fort Worth Business Group on Health Hosts Inaugural Health Worksite Wellness & Disease Management Event (Dallas-Fort Worth Business Group on Health) Ftwilliam.com Releases Roth 401(k) Amendment (ftwilliam.com) Newly Posted or Renewed Job Openings Director of Account Management for Health Insurance Carrier for Great-West Healthcare in OH Compliance Consultant - AZ for Vanguard in AZ Administrative Associate - Retirement Plan Services for Simpkins & Associates in TX Manager Benefits Planning & Strategy for World-renowned cultural institution in NY Account Executive for Great-West Retirement Services in NJ 401(k) Administrator for Retirement Plan Consulting Firm in Westchester County, NY in NY Installation Administrator for Transamerica in CA Taft Hartley Defined Benefit Pension Assistant Administrator for GCC/IBT-SRDF in IL Regional Sales Director for BISYS Retirement Services in AZ, CA, CO, IA, ID, KS, MN, MT, ND, NE, NM, NV, OK, OR, SD, TX, UT, WA, WI, WY Defined Contributions Testing Specialist for Constantin Control Associates in RI Handy Links:
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