| BenefitsLink Welfare Plans Newsletter |   |
February 9, 2007
Sponsored by: International Foundation of Employee Benefit Plans
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| The International Foundation of Employee Benefit Plans is a comprehensive resource for those working with benefit plans. Members enjoy personalized secondary research services, informative publications and online information, as well as discounted educational programs, books and distance learning options. Known as the cosponsor of the CEBS designation, the International Foundation also offers numerous ways to keep current with benefit issues, so you are prepared to answer your participants’ questions. |
Wal-Mart and SEIU Outline Themes To Meet Health Coverage Goal by 2012
Excerpt: "A coalition of business and union leaders led by Wal-Mart CEO H. Lee Scott and SEIU President Andy Stern on Wednesday gathered at a press conference to outline four general themes to meet a goal of affordable health care for all U.S. residents by 2012, the Wall Street Journal reports . . . ." (Kaiser Family Foundation)
President's Health Proposal Would Phase Out FSAs
Excerpt: "A little-noticed provision in President Bush's health care proposal . . . would phase out flexible spending accounts to help offset the total cost of the proposal. Contributions to FSAs would no longer be tax-deductible under President Bush's fiscal 2008 budget proposal. Individuals would be able to save tax-free for a dependant's medical expenses." (BenefitNews Connect)
What Every San Francisco Employer Needs to Know about the New Sick-Leave Law
Excerpt: "The ordinance will have a dramatic impact on San Francisco's workforce. Labor costs are estimated to increase by 3.3 percent for employers who currently do not provide paid sick leave or vacation days. The ordinance will have particular impact on restaurants and those who employ workers in labor-intensive, low-margin operations. And failure to comply will be costly." (The Recorder via Law.com)
Electronic Health Data Can Reduce Costs
Excerpt: "An emergency room setting with electronic health records can rein in health care spending, according to a study by MEDecision and Christiana Care Health System." (BenefitNews Connect)
Consumer Directed Health May Pique Interest in Direct Reimbursement Dental
Excerpt: " Direct reimbursement dental programs are seldom publicized, rarely implemented and wildly unconventional. So, why does the American Dental Association support direct reimbursement as 'the dental profession's preferred method of encouraging freedom of choice, fee-for-service dentistry and healthy dentist-patient relationships?'" (Employee Benefit News)
Letter to the Editor: Assessing Health Care's Costs
The letter is a reply to Robert J. Samuelson's January 31 column, 'Hiding Health Care's Costs." (The Washington Post; free registration required)
Benefit Management Initiatives Target Employee Behavior, According to Report
Excerpt: "The trends in benefits management are clear: integrate benefits more tightly with payroll and employee self-service to achieve administrative time and cost savings while pushing bold employee wellness initiatives to reduce healthcare utilization costs." (Market Wire via MSN.Money)
Multinationals Step Up Wellness Programs
Excerpt: "CEOs at multinationals are turning to wellness programs to trim their health care budgets. In doing so, they also are fighting against the global spread of chronic illnesses, recent research from PricewaterhouseCoopers indicates." (BenefitNews Connect)
Administration and Democrats Spar Over Group Health
Excerpt: "Rep. Allyson Schwartz, D-Pa., said the Bush administration seems to be ignoring the value of pooling of risk in efforts to buy insurance. If Congress adopts the Bush budget proposal as written, 'we're going to make Americans be more on their own when it comes to purchasing health care,' Schwartz said." (National Underwriter Life & Health; free registration or paid subscription required)
Universal Health Care Coverage Essential to System Reform, Physician Groups Assert
Excerpt: "from Spencer's Benefits Reports: Ten major national physician associations have endorsed universal health care coverage as the central principle for reform of the U.S. health care system." (Wolters Kluwer Law & Business)
Washington State Gov. Gregoire Proposes Universal Health Coverage Plan
Excerpt: "Washington Gov. Chris Gregoire (D) and state Democratic lawmakers on Tuesday announced a proposal that aims to offer universal health coverage to all state residents within five years, the AP/Seattle Post-Intelligencer reports . . . ." (Kaiser Family Foundation)
The Work, Family, and Equity Index: How Does the United States Measure Up? (PDF)
16 pages. Excerpt: "When it comes to ensuring decent working conditions for families, the latest research shows many U.S. public policies still lag dramatically behind all high-income countries, as well as many middle- and low-income countries. This report is based on updated and expanded research used in the first Work, Family, and Equity Index: Where Does the United States Stand Globally?, released in 2004." (Project on Global Working Families)
Sponsored by: Health and Welfare Plan Management for Mid-Sized Employers Conference
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| An Annual Check-Up for your Health Care Plan |
| Is your health care plan in shape? It may be time for a check-up. Plan sponsors are experiencing a myriad of cost vs. quality symptoms and conventional treatment is falling short of providing the cure -- quality health care at an affordable price. Treatments vary, and there are a number of strategies to consider. Which features are right for your plan? Find out at the Health and Welfare Plan Management for Mid-Sized Employers, March 25–28, in Orlando, Florida. This event can help your health care plan get back in shape! |
| (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) |
Links to Items on Executive Comp, Benefits in General
Text of Compliance Resolution Program for Non-Insider Employees Taxed in 2006 Due to Sec. 409A (PDF)
12 pages. Excerpt: "The Internal Revenue Service announces a compliance resolution program (the Program) that permits employers to pay the additional taxes arising under § 409A of the Internal Revenue Code due to the exercise of certain discounted stock options and stock appreciation rights (stock rights) in 2006. The Program provides a means to minimize the burdens of compliance on employees who are not corporate insiders, while ensuring that all applicable taxes are paid." (Internal Revenue Service)
New Program Permits Employers to Pay 409A Penalties of Employees Who Exercised Discounted Options
Excerpt: "Employees who exercised discounted stock options or stock appreciation rights (SARs) in 2006 can owe stiff tax penalties under Section 409A of the Internal Revenue Code. The Internal Revenue Service on February 8, 2007 announced a new program (Notice 2007-17) that allows employers to pay these penalties on behalf of their employees." (O'Melveny & Myers LLP)
Employers Can Satisfy Tax Obligations of Rank-and-File Employees with 'Backdated' Options
Excerpt: "Internal Revenue Service officials today announced an initiative aimed at providing relief for rank-and-file employees affected by their companies' issuance of backdated and other mispriced stock options. While the program will be available to help these employees who may be unaware that they held backdated options, the opportunity will not be available for backdated options exercised by most corporate executives or other insiders." (Internal Revenue Service)
IRS Offers a Partial Backdating Solution
Excerpt: "Internal Revenue Service officials have announced an initiative aimed at providing relief for rank-and-file employees affected by their companies' issuance of backdated and other mispriced stock options." (PLANSPONSOR.com; free registration required)
Overview and Table on SEC Amendment of Disclosure Rules for Stock and Option Grants
The table highlights differences between the final regulations and the interim final rules. (Watson Wyatt Worldwide)
Lobbyists Hope House Panel Will Keep Bill Clear of NQDC Provisions
Excerpt: "Members of the House Ways and Means Committee may keep non-qualified deferred compensation provisions out of an important package of small business tax breaks and revenue increases." (National Underwriter Life & Health; free registration or paid subscription required)
Newly Posted Events
HIPAA and Health Laws Compliance Assistance Seminar - Free
in Ohio on March 7, 2007
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Staying Current With IRAs - An Advanced IRA Seminar
in Iowa on February 20, 2007
presented by Collin W. Fritz & Associates, Ltd.
Staying Current With IRAs - An Advanced IRA Update
in Illinois on February 27, 2007
presented by Collin W. Fritz & Associates, Ltd.
Newly Posted Press Releases
U.S. Labor Department Settles With Accounting Firm Over Deficient Audit of Benefits Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Labor Department Announces New Rule Implementing Pension Protection Act Cross-Trading Exemption
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
IRS Offers Opportunity for Employers to Satisfy Tax Obligations of Rank-and-File Employees with ‘Backdated’ Stock Options
Internal Revenue Service (IRS)
Newly Posted or Renewed Job Openings
Pension Software Business Analyst
for Levi, Ray & Shoup, Inc.
in IL
Client Relationship Manager
for PensionTrend, Inc.
in MI
Plan Administrator
for Chicago Area Firm
in IL
Relationship Manager
for MassMutual Financial Group
in CA
Internal Sales Consultant
for T Rowe Price
in MD
Compliance Specialist
for Buck Consultant An ACS Company
in MA, NJ
Project Specialist
for Princeton Retirement Group, a subsidiary of Merrill Lynch
in NC
Pension Administrator
for Al Minor & Associates
in OH
Senior EB Recordkeeper/Tester
for Wachovia
in NC
EB Recordkeeper/Tester
for Wachovia
in NC
401k Plan Administrator/Trust Officer
for City National Bank
in CA
Senior Compensation Analyst (Ref.# JP27032-JN)
for Southern California Edison
in CA
Benefits Analyst
for JHU/Applied Physics Laboratory
in MD
Investment Professional
for Richardson Financial Group
in WI
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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