BenefitsLink |   |
| August 6, 2007 |
Sponsored by: BeneCom Associates, LLC
(Click on company name or banner to learn more.)
| BeneCom Associates, LLC, for one-stop benefit communications |
| Since 1992, BeneCom has provided one-stop benefit communications for organizations large and small, nationwide. Staffed by people who know benefits, we write, design and produce effective media, including SPDs, enrollment materials, newsletters, benefit statements and more. So whether you're an employer, plan administrator or consultant in need of traditional or online capabilities, we're here to help. Call (860) 674-2626 today. |
Federal Register Version of Proposed IRS Regs on Cafeteria Plans (PDF)
32 typeset, fine-print pages (yikes!); proposed to become effective in 2009. Replaces and restates proposed regs under section 125 that were published in 1984, 1989, 1997 and 2000, and temporary regs published in 1986. The new proposed regs reflect tax law changes since the earlier regs were published, including the definition of dependent and the addition of new qualified benefits such as adoption assistance and HSAs. Other changes include the prohibition against long-term care insurance and services, and the addition of the key employee concentration test in Code section 125(b)(2). Also clarifies the interaction between section 125 and section 401(k). (Internal Revenue Service)
Litigating Changes to Retiree Medical Benefits: Who Killed Yard-Man? (PDF)
12 pages. Excerpt: "Retiree medical-benefit disputes are complicated because an employer's agreement to provide medical benefits is regulated by the Employee Retirement Income Security Act ('ERI SA') and (in the case of collectively bargained-for retiree medical arrangements) by the Labor Management Relations Act ('LMRA'), Section 301." (Jones Day)
Opinion on John Goodman's Critique of Michael Moore's Documentary on Health Care Reform
Excerpt: "Bad economics is [John] Goodman's basic charge against 'SiCKO.' This charge prompted me, an economist, to see the documentary. My conclusion? Moore is far less guilty of flawed economics and disregard of relevant facts than is Goodman. Moore is also straightforward about his values and ideology, whereas Goodman masks his as scientific economics. This impels me to defend my profession by exposing the falsity of his claims, and some of the salient facts that he ignores." (Bangor Daily News via Physicians for a National Health Program)
House Unit to Ponder Tax-Exempt LTC Benefits
Excerpt: "A member of the House Ways and Means Committee is introducing a bill that would let workers use cafeteria plan and flexible spending account funds to pay for long term care insurance." (The National Underwriter Company; free registration or paid subscription required)
Medical Identity Theft Is a Growing Problem
Excerpt: "As a national push to adopt electronic medical records (EMRs) gains steam at all levels of government, a crack in the system is beginning to show: the threat of medical identity theft." (The Heartland Institute)
Hewitt Federal Legislation Quick Guide Updated July 31, 2007, for Health and Welfare Plans (PDF)
15 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)
Retiree Medical Benefits Sponsorship Remained Stable In 2006
Excerpt: "From Spencer's Benefits Reports: The proportion of firms offering retiree medical benefits remained stable between 2000 and 2006, according to the Commonwealth Fund/National Opinion Research Center's July 19 Survey of Retiree Health Benefits, 2005: A Chartbook." (Wolters Kluwer Law & Business)
Oregon Launches Hospital Price Comparison Web Site
Excerpt: "Oregon . . . launched a Web site that lets consumers compare the average payment for more than 80 medical procedures at Oregon hospitals, the AP/Salem Statesman Journal reports." (California HealthCare Foundation; free registration may be required)
Opinion: The Candidates Need to Catch Up to the Public on Health Care Reform
Excerpt: "Those presidential candidates who continue to tip toe on the critical issues facing voters ought to take a close look at poll results in Thursday's Wall Street Journal. The poll shows again how far the voters are ahead of the cautious politicians, especially on such essential matters as overhaul of our dysfunctional health care system . . . ." (Huffington Post via California Nurses Association / National Nurses Organizing Committee)
Overview: New Rules for Providing Medicare Part D Creditable Coverage Notices (PDF)
Excerpt: "Medicare Part D notices of creditable coverage must be provided to Medicare-eligible individuals prior to November 15 of each year. Many employers satisfy this requirement by including the notice in enrollment materials or in separate mailings in the fall. In preparing materials for distribution this fall, employers need to be aware of updated guidance and revised model notices provided by the Centers for Medicare & Medicaid Services (CMS)." (Buck Consultants)
Group Letter to Senate in Support of the Mental Health Parity Act, S. 558 (PDF)
Excerpt: "We write in joint support of the bipartisan agreement on mental health parity reached on August 2, 2007. We urge prompt Senate action on the resulting manager's amendment to the bipartisan Mental Health Parity Act of 2007, S. 558. We support enactment of this legislation into law this year." (American Benefits Council)
All Work and No Play Makes a Company...Unproductive
Excerpt: "All work and no play really can make Jack a dull boy: Apart from health risks that come with overwork, people who don't get out of the office tend to be less creative, less productive, and, ultimately, less effective. If there is one thing small-business owners can do to improve their companies' performance, experts say, it is take some time off." (U.S. News & World Report)
Insurance Company Is Not a 'De Facto' Plan Administrator Under ERISA
Excerpt: "[T]he de facto administrator theory has been rejected by some, but not all, federal courts. In jurisdictions that reject the theory, a third party, like a TPA, that has administrative functions under an ERISA plan would not be directly liable for statutory penalties under ERISA Section 502 unless specifically designated as the ERISA plan administrator (although . . . a TPA or other service provider could be liable to the designated plan administrator for failing to perform . . . ." (Employee Benefits Institute of America Inc.)
Highlights of a GAO Forum: Modernizing Federal Disability Policy
30 pages. Excerpt: "GAO convened this forum to address some of the key issues related to modernizing federal disability policy. The forum brought together a diverse array of experts, including employers; advocate groups, researchers, and academia; and federal officials. Comments expressed do not necessarily represent the views of any individual participant or the organizations they represent, including GAO. [Highlights of the report are at http://www.gao.gov/highlights/d07934sphigh.pdf.]" (U.S. Government Accountability Office)
Opinion: State Lawmakers' Negligence in Proposing Health Care Initiatives
Excerpt: "Let's see. ERISA was enacted in 1974. But in 2007, some lawmakers are surprised that ERISA preempts state health care mandates as they apply to self-funded plans. Developments such as these do not bode well for state health care legislative initiatives." (BNA Tax Management)
Opinion (Rudy Giuliani): A Free-Market Cure for the U.S. Health Care System
Excerpt: "Most Republicans believe in expanding individual choice and decision-making. I believe we can reduce costs and improve the quality of care by increasing competition. We can do it through tax cuts, not tax hikes. We can do it by empowering patients and their doctors, not government bureaucrats. Instead of being more like Europe, we need to be more like America." (Rudolph W. Giuliani via The Boston Globe)
Links to Items on Executive Comp, Benefits in General
ERISA Case Not Moot, Brief Before U.S. Supreme Court Says
Excerpt: "Attorneys for a Texas man involved in a major test case on rights to benefits in employee plans urged the Supreme Court on Friday to go ahead and decide the case and to reject a move to dismiss the case as moot." (Lyle Denniston via SCOTUSblog)
NFL Treatment of Former Players Is Coming Under Unprecedented Scrutiny
Excerpt: "While a pension may not seem important to millionaire pro athletes today, it is crucial to aging baby boomers who sacrificed their bodies playing in the era before free agency and sky-rocketing salaries. And how the various leagues treat their retirees is a study in contrasts." (The Star-Ledger)
Does Executive Compensation Communicate to Stakeholders That Company Is 'Doing the Right Thing'?
Excerpt: "Executive compensation is controversial regardless of what you do, but becomes a lightning rod when executives win and the company, shareholders, workforce and customers lose. Studies show that companies that pay for performance outperform those that don't. HR leaders must take a stronger role in guiding and educating the executive team on executive-compensation direction and its impact on the rest of the organization and other interested parties." (Human Resource Executive Online; free registration required)
Hewitt Federal Legislation Quick Guide for July 31, 2007, on Human Resources & Employment Law (PDF)
12 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)
Practitioner's Forum Discussion: The Proposed $1 Million Cap on Nonqualified Deferred Compensation
Excerpt: "The [target page] is a transcript of an informal discussion of employee benefit practitioners held in Washington, D.C., on May 17, 2007. The topic involved the proposed cap on the amount of compensation that could be deferred each year under a nonqualified plan." (BNA Tax Management)
From Very Beginning of the Nation's Modern Social Welfare System There Was Tension in It
Excerpt: "What should the government be expected to provide? What should be left to the individual? How much government is too much? The questions were asked even in 1935, not exactly a time to instill confidence in the resilient power of private markets." (The New York Times; free registration required)
Newly Posted Events
409A: Problem Solving and Document Drafting
Nationwide on August 30, 2007
presented by ALI-ABA (American Law Institute-American Bar Association)
Gearing Up for EGTRRA Restatements Webinar
Nationwide on August 16, 2007
presented by ftwilliam.com
Newly Posted Press Releases
Adding Annuities May Be Next Frontier in 401(k) Plans, Watson Wyatt Experts Say
Watson Wyatt
ABG to Host 401k Service Training Program
Alliance Benefit Group
Statement of PBGC Interim Director Charles E.F. Millard on Protection Secured for Chrysler Pensions
Pension Benefit Guaranty Corporation (PBGC)
Great-West to Assume Franklin Templeton 401k Recordkeeping Business
Great-West Life & Annuity Insurance Company
MetLife and ProManage Form Alliance
MetLife
New NIA Online Publication Features Health and Retirement Study
National Institutes of Health (NIH)
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs |
RSS Feed )
Associate Director, Benefits
for Virginia Tech
in VA
Account Manager-Defined Contribution Plans
for Standard Insurance Company
in OR
Health and Welfare Analyst
for Affiliated Computer Services
in NJ
Plan Document Specialist
for Caribbean Pension Consultants, Inc.
in FL
Assistant Client Service Associate
for Bank of America Corporate Insurance Agency, LLC
in NJ
Client Service Consultant - Regional
for Standard Insurance Company
in MO
Non Qualified Plan Administrator
for McCamish Systems
in GA
Senior Consultant
for Schloss & Co., a BenefitStreet co.
in NY
Legislation Counsel
for Joint Committee on Taxation
in DC
ESOP Administrator
for Mid-Atlantic Third Party Administrator
in ANY STATE
401(k) Processor
for Leggette Actuaries, Inc.
in TX
401k Administrator
for Mid-Atlantic Third Party Administrator
in ANY STATE
Retirement Plan Consultant III - Account Manager
for Standard Insurance Company
in CA
Institutional Relationship Manager
for Fifth Third Bank
in OH
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: