BenefitsLink |   |
| May 3, 2007 |
Sponsored by: Mid-Sized Pension Management Conference
(Click on company name or banner to learn more.)
| Safe Passage for Your Retirement Plan |
| Do you feel as though your retirement program is in dry dock, holding you back from exploring the open waters of plan management? Navigating the multitude of new management strategies has gotten even more difficult with the passage of the PPA 2006. There is good news ahead! It’s all hands on deck for the Mid-Sized Pension Management Conference, May 8–11 in Boston. This is the one program that provides real, take away solutions to your 401(k) or DB plan issues, allowing you to reach your company’s goals and help your employees meet their retirement income needs. |
Overview on Massachusetts' Cafeteria Plan Mandate (PDF)
2 pages. Excerpt: "Employers that cover Massachusetts-based employees that do not yet offer a cafeteria plan may want to consider setting up such a plan. That might entail: Designing the plan, Establishing payroll/payment mechanisms, Determining if an outside vendor is needed and selecting that vendor, and Communicating the new design to employees." (The Segal Group, Inc.)
Oregon Same-Sex Benefits Receive Final Legislative Approval
Excerpt: "The domestic partnerships measure covers benefits relating to inheritance rights, child-rearing and custody, joint tax filings, joint health, auto and homeowners insurance policies and visitation rights at hospitals." (AP via The New York Times; free registration required)
Spousal Benefits for G.ay Couples in New York
Excerpt: "Same-sex couples holding marriage licenses from places that allow same-sex marriage are now eligible for health benefits through a state health insurance plan, as well as other benefits, officials said. The new policy, which went into effect Tuesday after Gov. Eliot Spitzer ordered it, requires the state Department of Civil Service to extend to same-sex couples spousal benefits eligibility in the New York State Health Insurance Program." (Newsday.com)
Employers Recognized and Honored for Adoption Benefits
Excerpt: "To recognize employers that do an outstanding job of supporting workers who adopt, The Dave Thomas Foundation for Adoption is introducing the '100 Best Adoption-Friendly Workplaces' list - an annual ranking based on the financial assistance and paid leave provided under the employer's adoption benefits policy. The 2007 rankings, sponsored by Employee Benefit News, are based on survey data collected from 762 U.S. employers." (Employee Benefit News)
The Top 10 Companies for Adoption Benefits
Among the top ten companies providing adoption benefits are Citizens Financial Group, Inc. , Timberland, and JPMorgan Chase. (Employee Benefit News)
Prepaid Cards Allow Employers to Control Funds and Offer Relief After Disasters
Excerpt: "More employers are seeking to create disaster preparedness plans in the wake of 9/11 and Hurricane Katrina. Yet many may have heard or seen first-hand how hard it is to disburse funds during major disasters. For that reason, the financial industry issues prepaid disaster relief cards." (Employee Benefit News)
Blog by Plaintiff's Attorney Who Handled Successful Case on Health Expenses of Adopted Child
In an opinion by the Utah Supreme Court, two justices concurred with the result (liability for the child's health expenses on the part of the father's employer's self-funded medical plan) and made interesting points about ERISA's coverage mandate for adopted children. (Brian S. King, Attorney at Law)
Weak Customer Service and Poorly Trained Brokers Plague Consumer-Directed Care
Excerpt: "'The need for a seamless member experience is acute, but the back-room complexities are many,' [a Watson Wyatt consultant] says. 'It's not just the health plan and the [pharmacy benefit manager] anymore. Now it's also the health improvement vendor, the flexible spending account administrator, the HSA administrator and the electronic payment card vendor...plus all the internal stakeholders.'" (INSIDE CONSUMER-DIRECTED CARE via AISHealth.com)
Opinion: Healthy Businesses and Healthy Workers
Excerpt: "In Massachusetts there's still a major obstacle in the overall goal of universal coverage: cost. The problem of the uninsured can't be solved unless the issue of skyrocketing health costs to families and businesses is also tackled." (John Kerry via The Boston Globe)
Working Paper Abstract: Worker Sorting, Taxes and Health Insurance Coverage
Excerpt: "We develop a model in which firms hire heterogeneous workers but must offer all workers insurance benefits under similar terms. In equilibrium, some firms offer free health insurance, some require an employee premium payment and some do not offer insurance. Making the employee contribution pre-tax lowers the cost to workers of a given employee premium and encourages more firms to charge." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve full-text)
Survey: Tailoring the Approach: Employer Attitudes and Healthcare Strategies Address Distinct Issues (PDF)
12 pages. Excerpt: "In describing emerging employer attitudes and healthcare strategies, a tailoring of approaches can be observed, in which distinct issues, such as chronically ill employees, are being addressed through specific tools, incentives and disease management programs. Our newest results demonstrate the evolution of employer attitudes on benefit design, consumers and quality." (PricewaterhouseCoopers LLP; registration required to download the survey)
Testimony on Small Business Health Care Struggles
The testimony was presented to the House Committee on Energy and Commerce Health Subcommittee by Tony Montville of HealthTek Solutions on April 25, 2007. (U.S. Chamber of Commerce)
Opinion: Health Care--Where The Chamber Stands
Excerpt: "Generally, we support the goal of covering all individuals through private health insurance. However, we are not prepared to turn our health system over to the government. The Chamber believes that the private sector and competitive market forces are the best means to meeting health care needs." (U.S. Chamber of Commerce)
Hewitt Federal Legislation Quick Guide Updated May 1, 2007, for Health and Welfare Plans (PDF)
19 pages. This 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. (Hewitt Associates)
Overview of Circuit Split Over Benefit Claims Against Plan Administrators
Excerpt: "This case addresses the question of whether an ERISA plan is the only proper defendant in a claim based upon ERISA § 502(a)(1)(B). Under the facts, the defendant claims administrator, Sedgwick, argued that the plaintiff could not assert an ERISA § 502(a)(1)(B) claim against it, but only against the plan. The courts are not agreed on how to answer this question." (Health Plan Law blog by Attorney Roy F. Harmon III)
Links to Items on Executive Comp, Benefits in General
Overview of 409A Application to Stock Rights
Excerpt: "In this article, we will discuss the impact of 409A on stock rights with a focus on the clarification provided by the final regulations. As these rules related to the impact of 409A on stock rights are highly technical with regard to the underlying stock, this article assumes that the reader has a good working knowledge of stock and stock rights." (CCA Strategies)
Overview: Stock Rights Under Final Section 409A Regulations
Excerpt: "This Client Alert focuses on how these final regulations impact stock rights (e.g., nonstatutory stock options (NSOs) and stock appreciation rights (SARs))." (Wilson Sonsini Goodrich & Rosati)
Overview: Separation Pay Arrangements under the Final Section 409A Regulations
Excerpt: "Employers should perform the following action items within the next several months: Inventory all arrangements that provide for separation pay. Review all such separation pay arrangements to determine whether they are subject to Section 409A and amend them as necessary . . . . With respect to informal separation pay arrangements, determine to what extent they must now be formalized in a plan or in agreements. . . ." (Wilson Sonsini Goodrich & Rosati)
Crafting Executive Total Compensation Brings Challenges
Excerpt: "New attitudes on corporate governance and executive rewards mean some HR professionals managing total compensation programs for executives are expanding their roles." (Employee Benefit News)
Opinion: Insuring the Employee's Risk for His Retirement and Health Insurance
Excerpt: "Where are the new insurance products (protection for employee's medical 'HSA-Gap'? Employees' 401(k) inflation protection?) designed to absorb and mutualize the employees' cost of these risks? Why not provide that kind of insurance to employees, but through employers, on a group basis purchasable by employees through their own § 125 cafeteria?" (Pension & Benefits Blog)
Overview of the Semi-Annual ERISA Regulation Agenda (PDF)
3 pages. Excerpt: "Twice annually, the U.S. Department of Labor (DOL) publishes a regulatory agenda of its ERISA guidance projects. The most recent agenda, published in the Federal Register on April 30, 2007, is of particular interest because it reflects DOL's status and expectations for numerous regulation projects arising under the Pension Protection Act (indicated below by 'PPA'), as well as with respect to service provider fee disclosure, participant contributions and other matters." (Sutherland Asbill & Brennan LLP)
Hewitt Federal Legislation Quick Guide for May 1, 2007, on Human Resources & Employment Law (PDF)
11 pages. This 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 human resources and employment law. (Hewitt Associates)
Newly Posted Events
DC-2 Webcourse Now Available from ASPPA
Nationwide on May 1, 2007
presented by American Society of Pension Professionals & Actuaries (ASPPA)
Plan Designs 2007
in Illinois on June 25, 2007
presented by PLANSPONSOR
Preparing for GASB 45: Live Web Seminars for Governmental Employers
Nationwide on May 16, 2007
presented by Hay Group
ROTH: Now It's Really Final
Nationwide on May 24, 2007
presented by SunGard Relius
Newly Posted Press Releases
High Deductible Dental Plan Introduced; Expected to Save Colorado Employers Up to 40% in Dental Benefits Costs
Ben-e-lect
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Retirement Plan Writer
for The Capital Group Companies
in CA
Enrolled Actuary
for Midtown Manhattan Consulting Firm
in NY
401k Plan Technician/Analyst
for YHB Retirement Services LLC
in CT
Benefits Analyst for Retirement Plans
for Saks Fifth Avenue
in NY
Customer Service Supervisor (Health Claims)
for Zenith Administrators
in CA
Compliance Specialist
for MassMutual Financial Group
in MA
Account Manager
for MassMutual Financial Group
in MA
401(k) Compliance Consultant
for Pinnacle Financial Services, Inc.
in FL
Pension Manager
for UFCW-Employers Benefit Plans of Northern California
in CA
401(k) Administrator
for Martin, Martin, Randall & Associates, Inc.
in AL, MS
Director, Corporate Counsel
for Prudential Financial
in NJ
Retirement Plan Coordinator
for The Capital Group Companies
in VA
Pension Administrator
for The Pension Company
in FL
Defined Contribution Plan Administrator
for Pension Plan Professionals, Inc.
in FL
Director, Corporate Counsel
for Prudential Financial
in NJ
Director of Pension
for UFCW-Employers Benefit Plans of Northern California
in CA
Senior 401(k) Administrator
for Rapidly Growing Daily Valuation Recordkeeper
in PA
401(k) Administrator
for West Pension Solutions, LLC
in MD
Client Service Pension Administrator
for San Diego Pension Consultants, Inc.
in CA
Sr. Pension & Savings Plan Specialist
for Kohler Co.
in WI
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
Subscribe to the BenefitsLink Retirement Plans Newsletter, Too!
Sign-up form is at https://benefitslink.com/newsletter (free).
This newsletter is sent to you each workday except federal holidays.
This email has been published by:
BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151
David Rhett Baker, J.D., Editor
Copyright 2007 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission.
Anyone can receive these emails; just have them sign up at this web page: https://benefitslink.com/newsletter/
Other useful links: