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| August 30, 2007 |
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Official Guidance; News
Big Three Companies Competing To Become Lead Negotiator in UAW Contract NegotiationsExcerpt: "Detroit's Big Three automakers -- Ford Motor, General Motors and Chrysler Group -- are 'competing intensely' to become the lead contract negotiator with United Auto Workers as the Sept. 14 expiration of the current agreement draws near, the Detroit News reports (Vlasic, Detroit News, 8/29)." (Kaiser Family Foundation)
Summary/Analysis of Official Guidance
Report on 2007 Prescription Drug State Legislation, Updated August 1, 2007Excerpt: "So far, more than 500 pharma.ceutical bills and resolutions have been filed for consideration in 2007 legislative sessions." (National Conference of State Legislatures)
Tuition Reimbursement by Union Educational Program Would Not Constitute Prohibited Transaction
Excerpt: "Tuition reimbursement payments made by a union-sponsored trust to provide reimbursement to affiliated local unions for the expenses incurred by members in completing a welding program would not constitute a prohibited transaction if the reimbursement was pursuant to a clear agreement and the trust was not charged any interest or required to make other payments, according to an Employee Benefits Security Administration (EBSA) opinion letter." (Wolters Kluwer Law & Business)
Insurers, Employers Must Disarm HSA Landmines Before Fall Enrollment
Excerpt: "[At a July 26 audioconference sponsored by AIS] John Hickman, an attorney with the law firm Alston & Bird, described potential HSA-related 'landmines' that employees should avoid during the upcoming open-enrollment season. Hickman told listeners that August was a good time for employers and health plans to make sure their HSA-based plans are compliant with rules laid out by the Internal Revenue Service (IRS) and the Dept. of Labor (DOL)." (Inside Consumer-Directed Care via AISHealth.com)
Trends; Surveys; Research
Hewitt and Medical Experts Join to Develop Actuarial Model for Value-Based BenefitsExcerpt: "From Spencer's Benefits Reports: Hewitt Associates has announced a new initiative to develop a clinically-based actuarial model to implement a value-based medical benefits design." (Wolters Kluwer Law & Business)
Excerpt from Paper on Aggressive Parental Leave Incentivizing
Excerpt: "A very provocative and innovative approach to dealing with issues surrounding workplace/family balance issues." (Workplace Prof Blog)
U.S. Eyes California's Universal Health Care Plan As Failure of State's Proposal May Hinder Other Nationwide Efforts
Excerpt: "The prognosis for universal health care in California is grim this year, and experts say a failure could set back similar efforts nationwide for years to come." (AP via MSNBC.com)
Audio: U.S. Workers Gain Leisure Time, Study Says
Excerpt: "Despite its label of the 'no vacation-nation,' leisure time in the United States has actually increased in the past 40 years, according to a new study. Men work less in the market than they used to. And women have gained leisure time, thanks to declines in work they do in the home." (Morning Edition via National Public Radio)
Wariness Urged in Using Credit Cards for Medical Bills
Excerpt: "Although special financing plans for health care carry risks, using regular credit cards to pay medical bills may be even more dangerous to household finances. A big problem is that the interest rates on credit cards can be hard to predict. The interest rates may rise sharply if a cardholder falls behind on payments -- even payments on another card or, for that matter, on any other debt." (The New York Times; free registration required)
Businesses Look to Accommodate Non-Parents
Excerpt: "With schools around the country back in session, parents who work at small businesses will be asking for and receiving time off for [children's activities] -- possibly leading to some friction because other workers don't have such ironclad reasons . . . . Business owners and human resources executives say companies can avoid such problems with equitable time-off policies -- in other words, by recognizing that all employees regardless of their personal circumstances need a work-life balance." (AP via The New York Times; free registration required)
Doctors Offering No-Interest Loans to Patients
Excerpt: "Zero-interest financing, a familiar sales incentive at car dealerships and furniture stores, has found its way to another big-ticket consumer market: doctors' and dentists' offices." (The New York Times; free registration required)
More U.S. Companies Open Onsite Health Clinics as Part of Effort To Reduce Health Care Costs
Excerpt: "An increased number of U.S. companies have opened onsite health clinics for employees as part of an effort to 'reign in rising health care costs,' Gannett/Asbury Park Press reports." (Kaiser Family Foundation)
Policy; Opinion; Advocacy
California Health Reform Challenges 'the Most Complicated and Most Problematic System in the Country'Excerpt: "'Any progress in California would make a substantial dent in the problem of the uninsured nationally,' says Larry Levitt, a health policy analyst for the Kaiser Family Foundation, a non-profit research group based in Menlo Park, Calif. 'Action in California would create real momentum, both in the presidential debate and in other states.'" (USA TODAY)
Links to Items on Executive Comp, Benefits in General
Eleventh Circuit Rejects Application of 'De Facto' Administrator Doctrine to Claims Administrator
Excerpt: "In this ERISA claim for benefits case, the Eleventh Circuit augments its prior views on the scope of the de facto administrator doctrine. In effect, the opinion attempts to clarify when a party, not designated as a plan administrator, may nonetheless properly be named as a defendant as such based upon functional aspects of actual plan administration." (Health Plan Law blog by Attorney Roy F. Harmon III)
Overview: SEC Staff Comment Letters on Proxy Disclosure of Executive Compensation (PDF)
4 pages. Excerpt: "[The SEC issued] comment letters to select companies on August 21. The comment letters do not require the companies to amend their proxy statements, but rather reflect the comments in next year's proxy statements and, if applicable, provide additional information to the SEC staff about certain disclosures. The select companies are given until September 21 to respond. It is our understanding that additional letters will be issued in the next month . . . ." (Frederic W. Cook & Co., Inc.)
Automatic Extension of Stock Option Term Because of Inability to Exercise Due to Delinquent Company SEC Filings (PDF)
2 pages. Excerpt: "The inclusion of an automatic extension provision would give appropriate protection to an optionee who is not responsible for the inability to exercise a stock option before it expires and would avoid the necessity of the company considering cash or other payments to the optionee as compensation for the expired stock option." (Frederic W. Cook & Co., Inc.)
2006 International Stock Plan Design and Administration Survey (PDF)
56 pages. Excerpt: "The survey consisted of questions addressing eight areas: General Information; International Plans; Stock Option Plans; Employee Stock Purchase Plans; Performance Plans; Other Stock Grants/Awards; Utilization, Allocation, and Source of Plan Shares; and, Country-Specific practices covering the EU and nine countries." (The National Association of Stock Plan Professionals and Deloitte Tax LLP)
Aligning Internet Technologies with Reward and Recognition Programs
Excerpt: "Employers have embraced technology to improve benefits delivery -- including health, retirement and open enrollment -- and are beginning to adopt similar strategies for rewards and recognition programs. Web-based solutions allow employers to better understand what workers want from rewards and recognition, rewards and incentive consultants contend." (Employee Benefit News; free registration required)
Newly Posted Events
Interactive Cafeteria Plan Seminar on 9/19/2007 & 9/26/2007
Nationwide on September 19, 2007
presented by HRcertification.com
New Cafeteria and Dependent Care Plan Regulations: Treasury Speaks & Organizes
Nationwide on September 20, 2007
presented by ABA Joint Committee on Employee Benefits
Qualified Plan Document Update
Nationwide on October 9, 2007
presented by McKay Hochman Co., Inc.
Taxing & Reporting Fringe Benefits Under Increased IRS Scrutiny - Audio Conference
Nationwide on September 18, 2007
presented by HRcertification.com
Newly Posted Press Releases
ASPPA announces the ASPPA 401(k) Leadership Award
ASPPA (American Society of Pension Professionals & Actuaries)
Aspen Publishers Offers Comprehensive, New Qualified Plans Self-Audit Guide
Aspen Publishers
Employee Benefit Plans Can Expect Increased Transparency In The Quality Of Financial Reporting Controls, AICPA Says
American Institute of Certiifed Public Accountants (AICPA)
Labor Day Survey Reveals Unspoken Needs of America's Employees
Kronos Incorporated
LTC Financial Partners Applauds Kiplinger's Personal Finance for 'Authoritative' Advice on Long Term Care Insurance
LTC Financial Partners
Newly Posted or Renewed Job Openings
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Retirement Plan Writer
for The Capital Group Companies
in CA
Retirement Plan Processor
for Heaton & Eadie, PSC
in IN
Document Specialist
for The Newport Group
in FL
Assistant Actuary and Administrator
for Chatham Consulting Group, Inc..
in NY
Account Executive - Retirement Services
for The Principal Financial Group
in MI
Defined Benefits (DB) Domain Manager
for Hewitt Associates
in ANY STATE
WRS Education Services Team Leader
for Wachovia
in MN
Paralegal - Employee Benefits Practice
for Hodgson Russ LLP
in NY
Retirement Compliance Advisor
for NRECA
in VA
Client Service Consultant - Regional
for Standard Insurance Company
in WA
Retirement Plan Administrator
for Presser, Lahnen & Edelman
in FL
Sr. Financial (Pension) Benefits Analyst
for Houston-based NYSE Listed Company
in TX
Pension Administration Analyst Experienced
for Hewitt Associates
in GA
Senior Pension Administrator
for Retirement Benefit Solutions, LLC
in DC, DE, MD, NJ, PA, VA
Handy Links:
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- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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