| BenefitsLink Welfare Plans Newsletter |   |
July 21, 2006
Today's sponsor: The Center for Tax Law and Employee Benefits at The John Marshall Law School
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| Are you working in human resources? Are you dealing with health insurance plans or pension benefits? Learn how you can broaden your experience with an M.S. degree (for non-lawyers) or LL.M. degree (for attorneys) in employee benefits from The John Marshall Law School in Chicago during an information session from 5 to 7 p.m., Wednesday, August 2. Learn how these unique programs can help advance your career. |
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Congress Urged to Clear Path for Generic Drugs
Excerpt: "Congress should act to protect generic drugmakers from brand-name company tactics that thwart competition and keep cheaper medicines from U.S. consumers, a generic manufacturer said on Thursday." (Reuters via New York Times; free one-time registration required)
Critics Say San Francisco Health Plan Would Hurt Businesses
Excerpt: "The new San Francisco Health Access Plan would require companies in the city to pay up to $274 per month per employee in health-care expenditures. The legislation, which could be approved by the city Board of Supervisors as early as July 18, has prompted opposition from many San Francisco companies." (San Francisco Business Times via bizjournals.com; one-time registration required)
American Academy of Actuaries Urges Congress to Create 'Office of the Actuary' (PDF)
23 pages. Excerpt: "The National Insurance Act of 2006 would establish an optional federal charter regulatory system for life and property/casualty insurers and create an Office of National Insurance. The American Academy of Actuaries strongly encourages that any new legislative measure involving insurance include an explicit provision for an Office of the Actuary." (American Academy of Actuaries)
Medication Errors Harming Millions; Costly, Widespread
Excerpt: "The report found errors to be not only harmful and widespread, but very costly as well. The extra expense of treating drug-related injuries occurring in hospitals alone was estimated conservatively to be $3.5 billion a year." (Washington Post)
Study Shows Health Benefits of Kids' Playtime
Excerpt: "Doctors may soon have a prescription for health that even kids will like: more playtime. European and international health experts say a new study makes the most convincing case yet for the benefits of children being active." (AP via New York Times; free one-time registration required)
Links to Items on Executive Comp, Benefits in General
Text of Final DOL Rule Requiring Electronic Filing of Form 5500 Beginning in 2008
Excerpt: "Any annual report (including any accompanying statements or schedules) filed with the Secretary under part 1 of title I of the Act for any plan year (or reporting year, in the case of common or collective trusts, pooled separate accounts, and similar non-plan entities) beginning on or after January 1, 2008, shall be filed electronically . . ." (Employee Benefits Security Administration, U.S. Department of Labor)
Text of Proposed Changes to Form 5500 to Facilitate Electronic Filing and for Other Purposes (PDF)
37 pages. The proposed revisions would create a new short form for small plans whose assets are held in easy to value investments with regulated financial institutions; increase transparency of fees and expenses; improve information on the funding of defined benefit plans; and realign of the reporting rules of 403(b) plans (subject to Title I) to be compatible with those of 401(k) plans. The new system also would customize the information required to be filed to the type of plan involved. (Internal Revenue Service; Employee Benefits Security Administration; Pension Benefit Guaranty Corporation)
Text of Proposed DOL Rule to Conform DOL Regs to Proposed Form 5500 Changes
Various changes are being proposed to the Form 5500 Annual Return/Report and its instructions in a Notice of Proposed Form Revisions published today in the Federal Register. To accommodate those form and instruction changes, the regulatory amendments to 29 CFR 2520.103-1 are being proposed to update the references to the annual report to reflect the new structure and components of the Form 5500 Annual Return/Report. (Employee Benefits Security Administration, U.S. Department of Labor)
Execs Charged in Stock Options Probe
Excerpt: "U.S. authorities on Thursday charged former officers of technology group Brocade Communications Systems Inc. . . . with fraud in the first court actions to result from an investigation of corporate stock option grants that has spread to 80 companies." (Reuters via New York Times; free one-time registration required)
Newly Posted Events
Equity Compensation for Closely Held Companies
Nationwide on November 6, 2006
presented by National Center for Employee Ownership
Newly Posted Press Releases
Labor Department Announces Final Rule on Electronic Filing and Proposes Improvements to Form 5500 Annual Reports
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))
New Research from EBRI: Average Couple Today Needs $295,000 for Retiree Health Expenses
(Employee Benefit Research Institute (EBRI))
Public Attitude Shifts in Favor of Employer Incentives to Change Employee Health Behavior
(Gordian Health Solutions, Inc.)
MNA Files Suit in Federal Court to Appeal Arbitration Ruling Denying Health Insurance Benefits to the Same-Sex Spouse of a Nurse at Merrimack Valley Hospital
(Massachusetts Nurses Association (MNA))
Newly Posted or Renewed Job Openings
Pension Consultants/Administrators
for Northern NJ Mid-Size Pension Consulting Firm
in NJ
Flexible Spending Department Manager
for BBT/Stanley, Hunt, Dupree, and Rhine
in SC
New Business Review Specialist ~ Financial Services
for CitiStreet
in NJ
401(k) Administrator
for Blue Ridge ESOP Associates
in VA
Customer Service Associate
for Hewitt Associates
in FL
Pension Administration Analyst-Entry
for Hewitt Associates
in GA
Retirement Program Manager - DB, DC, and NQP Plans
for Vanguard
in PA
Pension Recordkeeper
for Small Benefits Consulting Firm in Northern New Jersey
in NJ
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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