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| July 31, 2007 |
Sponsored by: Employee Benefits Institute of America Inc. (EBIA)
(Click on company name or banner to learn more.)
| Record Retention Requirements for Health & Welfare Plans |
| In Record Retention Requirements for Health & Welfare Plans, EBIA's experts analyze record retention requirements for ERISA health and welfare plans as well as other employer-provided health and welfare benefits not subject to ERISA. You'll find answers to your record retention questions for many benefits including cafeteria plans, DCAPs, qualified transportation plans, HSAs, group health plans (like major medical, dental, health FSAs, and HRAs), and other ERISA benefits.
Available now at the introductory price of $195. Please enter priority code BL195. For more information and to order, visit http://www.ebia.com/OtherOfferings/Books/RecordRetention. |
UPS Submits to Push for Health Benefits for New Jersey Civil Union Partners
Excerpt: "United Parcel Service (UPS) said it would offer health care benefits to all civil union partners of hourly workers in New Jersey who are covered by union plans, going back on its previous stance that state law does not treat civil unions the same as marriages." (PLANSPONSOR.com; free registration required)
Recent Media Articles Related to Employer-Sponsored Health Insurance: HSAs, Obesity, Prescription Drug Co-Pays
Excerpt: "Employers that increase prescription drug copays for employees reduce their expenditures for medications, but 35% of the savings that result is offset by increased expenditures in other areas of health care, such as physician or emergency department visits, according to a study published this month in Forum for Health Economics and Policy . . . ." (Kaiser Daily Health Policy Report)
Washington Times Looks at Potential Effects of Massachusetts Health Law on Small Businesses
Excerpt: "According to a market analyst who spoke to the Times on the condition of anonymity, the law 'could amount to a slow bleed on small businesses that offer health insurance but have employees that hadn't, until now, taken advantage of it' . . . ." (Kaiser Daily Health Policy Report)
Notice of Removal of Temporary IRS Regs from 1986 for Benefits Under Cafeteria Plans (PDF)
3 pages. Excerpt: "This document removes the temporary regulations pertaining to benefits that may be offered to participants under a section 125 cafeteria plan. The temporary regulations were published in the Federal Register on February 4, 1986. Guidance issued by the IRS and the Treasury Department under section 125 have made these temporary regulations obsolete." (Internal Revenue Service)
Overview: Court Finds 'Third Party' Subrogation Provision No Bar to ERISA Plan's Recovery
Excerpt: "Hofer [South Dakota State Medical Holding Co., Inc. v. Hofer] presents a couple of interesting points for those that follow the law in the area of group health plan subrogation and reimbursement." (Health Plan Law blog by Attorney Roy F. Harmon III)
Health Plan Sponsors' ERISA Toolkit Updated 7/31/07
Excerpt: "The ERISA TOOLKIT PAGE has been updated. . . . This section begins a checklist of considerations for the plan fiduciary in the context of claims review." (Health Plan Law blog by Attorney Roy F. Harmon III)
New Benefits Bills In Senate
Excerpt: "From Spencer's Benefits Reports: Between June 12 and July 23, . . . benefits-related bills were introduced in the Senate. Included is a Senate bill to improve the health coverage tax credit (S. 1739)." (Wolters Kluwer Law & Business)
The New Health Care Currency: Keeping Employees Well (PDF)
4 pages. Excerpt: "Learn why it is prudent to keep employees healthy and how to create a 'well workplace.'" (Aon Consulting)
Managing Health Care Cost and Quality Through Predictive Data Analytics (PDF)
3 pages. Excerpt: "Read about how the emerging power of predictive analytics, coupled with advances in technology, can provide the tools and insight needed to effectively manage health care plans for the long term." (Aon Consulting)
Working Paper: Urban Planning, Housing Design, and Work-Family Balance
Excerpt: "[The author argues] that effective work-family balance requires attention to the spatial dimensions of the work-family conflict." (Fordham Law Review via Social Science Research Network)
Fed Gov Ordered to Send Criminal Court Proceeding Notice to Victims of TPA Charged with Embezzlement
Excerpt: "EBIA Comment: Although we rarely report on cases at this stage of the proceedings, we do so here because the defendant appears to be one of the first individuals to face federal criminal charges for allegedly embezzling HSA funds. The bankrup.tcy trustee . . . has received permission from the bankrup.tcy court to engage special ERISA counsel to help recover the lost funds." (Employee Benefits Institute of America Inc.)
Despite Procedural Violations, Plan Substantially Complies with Old Claims Procedure Regulations
Excerpt: "EBIA Comment: It is difficult to reconcile the judicial opinions issued to date on the legal consequences of inadequate claims procedures. Certain courts appear to apply a higher standard of substantial compliance than the Fifth Circuit does in this case, especially when interpreting the new DOL claims regulations and especially when, as here, the plan fails to specify what information might be submitted to perfect a claim . . . ." (Employee Benefits Institute of America Inc.)
Economist/Entrepreneur Says Employers Should not Offer Group Health Plans, Help Employees buy Own
Excerpt: "The Wall Street Journal on Monday profiled Paul Zane Pilzer, an economist and entrepreneur who has recommended that employers 'stop providing group health insurance and help employees get individual policies instead.'" (PLANSPONSOR.com; free registration required)
Survey Shows Short-Term Relocation Assignments Outpace Long-Term
Excerpt: "Companies that relocate workers and their families overseas are more likely to offer some sort of cultural and language training than they were three years ago, according to a recent survey by Cartus, a mobility management and workforce development solutions provider." (PLANSPONSOR.com; free registration required)
Links to Items on Executive Comp, Benefits in General
Study Mulls Changing Face of the U.S. Workforce
Excerpt: "America's employers may have as many as 4 distinct generations in the workforce for the first time in history, a new report points out. Because each generation carries its own set of values, communication styles and attitudes about work-life balance, this presents a challenge to employers and employee benefits firms trying to suit their needs, according to the study by Unum, Chattanooga, Tenn. And LIMRA International, Windsor, Conn." (The National Underwriter Company; free registration or paid subscription required)
Hewitt's Monthly Europe Legislative Update, July 2007 (PDF)
6 pages. Excerpt: "Our monthly updates summarize recent legislative activity in Europe, by country, for the following issues: labor environment, cost of employment, employment terms and conditions, retirement and social security, health care system, taxation of compensation and benefits, and issues for expatriate employees." (Hewitt Associates)
Corrections to Final IRS Regs on Application of Section 409A to Nonqualified Deferred Compensation Plans
Excerpt: "As published, final regulations (TD 9321) contain errors that may prove misleading and are in need of clarification." (Internal Revenue Service)
Executive Compensation Disclosures Reveal $21M Median Potential CEO Severance Pay
Excerpt: "Equilar, Inc., an executive compensation research firm, completed an analysis of potential exit packages for chief executives at Fortune 200 companies using compensation data disclosed under the Security and Exchange Commission's (SEC) new disclosure rules and found a median potential severance payout, as estimated by each company, of approximately $21 million." (PLANSPONSOR.com; free registration required)
Newly Posted Events
Cross-Tested Plan Workshop
in Texas on August 22, 2007
presented by SunGard Relius
Cross-Tested Plan Workshop
in Minnesota on August 22, 2007
presented by SunGard Relius
Cross-Tested Plan Workshop
in North Carolina on August 22, 2007
presented by SunGard Relius
Final Code §403(b) Regulations: It's Finally Here! - Webcast
Nationwide on August 16, 2007
presented by American Society of Pension Professionals & Actuaries (ASPPA)
Safe Harbor 401(k) Plans Workshop
in North Carolina on August 23, 2007
presented by SunGard Relius
Safe Harbor 401(k) Plans Workshop
in Texas on August 23, 2007
presented by SunGard Relius
Safe Harbor 401(k) Plans Workshop
in Minnesota on August 23, 2007
presented by SunGard Relius
Section 409A: Drafting and Amending Executive Employment and Separation Agreements under the Final Regulations on Deferred Compensation - Webcast
Nationwide on July 31, 2007
presented by ALI-ABA (American Law Institute-American Bar Association)
SPARK Accredited Retirement Plan Consultant (ARPC) Training and Designation Program
in Illinois on October 9, 2007
presented by SPARK -- Society of Professional Asset-Managers and Record Keepers
SPARK Accredited Retirement Plan Specialist (ARPS) Training and Accreditation Program
in Illinois on October 10, 2007
presented by SPARK -- Society of Professional Asset-Managers and Record Keepers
Newly Posted Press Releases
New EBRI/ICI Research: Average 401(k) Account Grew 8.7 Percent Annually Over 7-Year Period
Employee Benefit Research Institute (EBRI)
Retirement Market Place To Be Driven By "Auto-Everything" Over Next Three Years
Putnam Investments
Benefits & Compensation Digest Honored
International Foundation of Employee Benefit Plans
New 403(b) Regulations Released by the Internal Revenue Service Will Place Additional Administrative Responsibilities on School Systems
ING Group
UPS Extends Health Benefits to N.J. Civil Union Partners
UPS
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Employee Benefits Specialist
for Steptoe & Johnson PLLC
in OH
Assistant Manager
for Great-West Corporate
in CO
Director of Retirement
for Buck Consulting
in NJ, NY, OH
Treasury & Security Services Senior Compliance Officer - Boston
for JPMorgan Chase & Co.
in MA
Compliance Manager (Treasury & Security Services) - New York
for JPMorgan Chase & Co.
in NY
Institutional Sales Integration Director
for Standard Insurance Company
in OR
Benefits Compliance Specialist
for Aerojet - Sacramento
in CA
Consultant - Health and Welfare
for Buck Consultants
in FL
Retirement Plan Sales Associate
for Nollenberger Capital Partners
in CA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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