| BenefitsLink Welfare Plans Newsletter |   |
April 4, 2007
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Retiree Health Coverage Continues to Disappear
Excerpt: "Less than one in five firms offer a defined retiree health care benefit to new employees, a recent study finds. " (Workforce Management; free registration required)
'Health Care Costs 101' -- Annual Overview of Latest Health Spending Trends in U.S. and California
Excerpt: "While spending on health care continues to moderate, the growth in health spending was twice the rate of inflation in 2005, resulting in constant pressure on government, employers, and consumers to keep up." (California HealthCare Foundation; free registration may be required)
Overview: Emergency Rules to Implement Cafeteria Plan Requirement for Massachusetts Employers
Excerpt: "In order to satisfy the mandate, employers must maintain their IRC § 125 cafeteria plan pursuant to a written plan document. The plan document must contain at least six specified elements, including a description of available benefits and eligibility rules. The plan document must be filed with the Connector." (Deloitte via BenefitsLink.com)
Overview: CMS Updated Guidance on Notice of Creditable or Noncreditable Coverage Under Part D
Excerpt: "The updated guidance also clarifies that notices can be distributed electronically by following the requirements set out in DOL Reg. § 2520.104b-1(c)(1). The significance of incorporating these regulations is that they permit electronic distribution to participants 'who have the ability to access electronic documents at their regular place of work if they have access to the plan sponsor's electronic information system on a daily basis as part of their work duties.'" (Deloitte via BenefitsLink.com)
Employers Should Beware of Partnering with Colleges
Excerpt: "Costs for higher education are rising every year. Such increases include the costs for employers to provide tuition assistance benefits. In an effort to keep tuition bills low, some companies are partnering with colleges and universities to obtain reduced tuition rates." (Employee Benefit News)
Workers Who Smoke Take More Sick Leave
Excerpt: "Smokers take more sick leave than their colleague who don't smoke, according to a survey of Swedish workers, the Denver Channel reported." (PLANSPONSOR.com; free registration required)
Health Care Data Exchange Put Into Service
Excerpt: "A group that has been working to put patient health care benefits eligibility information online announced that its system is up and running. The Council for Affordable Quality Health Care, Washington, says health care providers and hospitals can now have fast access to consistent eligibility and benefits information . . . ." (The National Underwriter Company; free registration or paid subscription required)
Book Review: The Untold Story of America's Health Care Crisis -- and the People Who Pay the Price
Excerpt: "[Jonathan] Cohn provides readers with an easily obtainable history of how our current system of patchworks of private health insurance plans and public assistance programs came to pass." (The New York Sun)
Health Insurer Bonus Program Akin to 'Pay for Performance'
Excerpt: "WellPoint Inc. has announced a new employee bonus plan that will link a portion of every employee's annual incentive to improvements in members' health care." (PLANSPONSOR.com; free registration required)
HMO Performance Efficiency Could be from Healthier Patients
Excerpt: "There is no conclusive evidence to show health maintenance organizations (HMOs) are more financially efficient on a national basis, according to a new Hewitt Associates study." (PLANSPONSOR.com; free registration required)
Opinion: Toward Free-Market Health Care
Excerpt: "Our health care sector must change to meet the challenges of a 21st century economy. Consumers, not just in the United States but in all developed countries, are demanding a much greater role in decisions involving their health care. People can find on the Internet a wealth of information about diseases, diagnoses, and treatment options, but all too often, they must fight bureaucracies and paperwork all along the way." (Galen Institute)
Opinion: ERISA and Arnold's Health Plan for California
Excerpt: "No outside expert thinks the governor's plan (and similar plans put forward by Don Perata and Fabian Nunez) is legal, so how on Earth does it make sense for Sacramento to have a knock-down, drag-out fight over something that will end up getting thrown out in the courts? " (Union-Tribune Publishing Co.)
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Links to Items on Executive Comp, Benefits in General
PPA Ushers in New Regulations for Employer-Owned Life Insurance
Excerpt: "When the Pension Protection Act of 2006 was signed into law last year, a number of new rules and regulations regarding employer-owned life insurance (EOLI) went into effect, and are effective for all new policies issued after August 17, 2006." (Employee Benefit News)
Overview of the IRS Detailed Report on Results of Executive Compensation Initiative (PDF)
4 pages. Excerpt: "The specific purpose of the Report was to summarize the findings and conclusions from the IRS' Executive Compensation Compliance Initiative during 2004-2006 (Initiative). The Report contains many significant findings, both positive and negative. As such, it offers important guidance for the executive compensation committees, senior executive leadership, and compensation counsel of tax exempt hospitals." (American Health Lawyers Association)
40 U.S. Corporations Pay Reports Fail SEC's Readability Test
Excerpt: "General Electric Co., SunTrust Banks Inc. and Eli Lilly & Co. failed to follow U.S. rules that require companies to eliminate jargon when explaining how they pay their top executives." (Bloomberg News)
Towers Perrin Survey Reveals Widespread Employer/Employee Dissatisfaction with Benefits Programs
Excerpt: "from Spencer's Benefits Reports: . . . . Three-fourths of the responding employers believe that their programs fail to meet cost-control objectives." (Wolters Kluwer Law & Business)
GAO Does Follow Up EBSA Evaluation; Calls for More EBSA Enforcement
Excerpt: "This latest report, which builds on an earlier GAO report released in March 2002, was produced for Senator Michael Enzi (R-WY) by the federal government's watch-dog over agencies and their enforcement operations, continues to urge EBSA to build on employer benefits enforcement improvements." (Deloitte via BenefitsLink.com)
U.S. Employers Gradually Turning Backs on Employee Stock Plans
Excerpt: "U.S. companies are steering away from stock option plans in favor of expanding their restricted equity award and performance share programs, according to new research from Greenwich Associates." (PLANSPONSOR.com; free registration required)
Newly Posted Events
2007 Business Management Conference (2007BMC)
in Arizona on January 12, 2008
presented by National Institute of Pension Administrators
2007 Fall Forum
in Minnesota on September 10, 2007
presented by BISYS Retirement Services
2007 Fall Forum
in Massachusetts on October 15, 2007
presented by BISYS Retirement Services
2007 Fall Forum
in Nevada on October 29, 2007
presented by BISYS Retirement Services
2007 Fall Forum
in Texas on November 12, 2007
presented by BISYS Retirement Services
2007 IRA Institute
in Illinois on June 25, 2007
presented by BISYS Retirement Services
2007 IRA Online Institute
Nationwide on May 7, 2007
presented by BISYS Retirement Services
2007 IRA Online Institute
Nationwide on September 10, 2007
presented by BISYS Retirement Services
2007 NIPA Annual Forum & Expo
in Nevada on May 7, 2007
presented by National Institute of Pension Administrators
2007 Web/Telephone Seminar: General Traditional IRA Distributions
Nationwide on May 10, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Handling IRA Legal Issues
Nationwide on May 15, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Introduction to 401(k) Plans
Nationwide on May 24, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Introduction to Qualified Retirement Plans
Nationwide on May 22, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Reporting
Nationwide on May 8, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Roth IRA Distributions
Nationwide on May 17, 2007
presented by BISYS Retirement Services
401(k) Plan Workshop
in Washington on May 1, 2007
presented by SunGard Relius
401(k) Plan Workshop
in Texas on May 3, 2007
presented by SunGard Relius
401(k) Plan Workshop
in District of Columbia on May 3, 2007
presented by SunGard Relius
401(k) Plan Workshop
in Utah on May 4, 2007
presented by SunGard Relius
Advancing Value-Driven Health Care: The Third Annual Incentives and Rewards Symposium
in Pennsylvania on May 15, 2007
presented by National Business Coalition on Health
Form 5500 Workshop
in Texas on May 2, 2007
presented by SunGard Relius
Form 5500 Workshop
in District of Columbia on May 2, 2007
presented by SunGard Relius
Form 5500 Workshop
in Utah on May 3, 2007
presented by SunGard Relius
Group Long Term Care Insurance: An Introduction
in Washington on April 20, 2007
presented by International Society of CEBS - Pacific NW Chapter
MBGH's 27th Annual Conference -- Health Benefits GPS, Mapping your 2008 Strategy
in Illinois on May 10, 2007
presented by Midwest Business Group on Health
NBCH's 2007 12th Annual Conference Buying Right: Strategies for Purchasing Health Care that Delivers
in Arizona on November 11, 2007
presented by National Business Coalition on Health
Newly Posted Press Releases
Unclaimed Pension Benefits Total $133 Million at PBGC
Pension Benefit Guaranty Corporation (PBGC)
Standard & Poor's Compustat(R) Delivers SFAS 158 Compliant Pension Data
Standard & Poor's
Schwab Completes Acquisition of The 401(k) Company
Charles Schwab & Co., Inc.
RWJF Commits $500 Million to Reverse Childhood Obesity
Robert Wood Johnson Foundation
ICMA-RC Introduces Suite of Investment Advisory Services to Retirement Plan Participants
ICMA-RC
Everest Rolls Out Innovative Employee Benefits Solution
Everest
When It Comes To Retirement Planning, Women Report More Emotional 'Distress' Than Men
Wachovia Corporation
Newly Posted or Renewed Job Openings
Daily 401(k) Administrator
for American Pensions, Inc.
in SC
Client Relationship Manager
for ING, Financial Services
in TX
Account Manager
for Standard Insurance Company
in MA
Senior Plan Administrator
for American National Insurance Company
in TX
Client Relationship Managers
for Benefit Jobs LLC
in ANY STATE
Senior Employee Benefits Daily Administrator
for BB&T (Branch Banking and Trust)
in NC
Plan Administrator
for Sanders Petmecky, LLC
in GA
Employee Benefits Specialist
for Steptoe & Johnson PLLC
in OH
Retirement Plan Administrator
for Actuarial Consultants
in CA
Account Manager, Employee Benefits
for ABD Insurance and Financial Services
in CA
AVP, Health and Welfare Benefits
for Countrywide Financial Corporation
in CA
VP, Wellness Programs and Benefit Services
for Countrywide Financial Corporation
in AZ
Assistant Vice President (Relationship Manager RPS)
for First National Bank of Omaha
in NE
Plan Consultant Opportunity
for Weaver Partners, Inc.
in ANY STATE
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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