BenefitsLink |
 |
 |
| September 24, 2007 |
| Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. |
Today's sponsor is SunGard Relius
(Click on company name or banner to learn more.)
| We Build Relationships Plus Self-funded Health Plan Tools |
| Our nationally known experts have been writing and supporting self-funded health plan documents since 1974. Relius Documents supports a broad line of DOL and HHS compliant plan document types (Self-Funded, ASA, and HDHP), along with SPD and all enrollment and election forms. Create and manage your plan documents using Relius Documents software (PC or ASP) or through our Service Bureau.
Contact us at 800-326-7235, ext 5970. |
New Compliance Rules; News
UAW and GM May Be Close to Reaching Deal - As of September 23rdExcerpt: "Negotiators for General Motors Corp. and the United Auto Workers were close to finalizing the details of a new contract Sunday after 20 straight days of talks, according to a local union official who is being briefed on the discussions." (AP via The Washington Post; free registration required)
Obscure Health-Benefit Scheme (VEBA) Is Central Issue in Auto/Union Talks
Excerpt: "GM wants to deviate from the traditional setup, people close to the talks said. The company reportedly wants to put one large lump sum into a VEBA, which the union alone would control, and does not want to regularly replenish the fund. The people spoke on the condition of anonymity because the negotiations are supposed to be private. How much GM should put into the trust is contentious. According to news reports, GM appears to be offering to pay 50 to 70 percent of its liability, estimated to be around $55 billion." (The Washington Post; free registration required)
Cost of U.S. Health Care System Bugs Employers
Excerpt: "The biggest problem employers have with the proposals from presidential candidates to reform the country's health-care system is that they lack concrete ideas on improving the system itself. The proposals are all about coverage -- getting more people health insurance. While proponents contend that universal coverage would go a long way to cut costs, employers say it's putting the cart before the horse." (Financial Week; free registration required)
California Closes In on Universal Health Care Plan as Governor, Democrats Work to Resolve Funding
Excerpt: "With his own party sidelined, California Gov. Arnold Schwarzenegger (R) is working with Democrats to produce a bill that would extend health insurance to everyone in the nation's largest state if voters approve new taxes to pay for it." (The Washington Post; free registration required)
Compliance Rule Summaries/Analysis/Filed Comments
EEOC Officials Offer Informal Views on ADEA, ADA, and PDA IssuesExcerpt: "The American Bar Association's Joint Committee on Employee Benefits (JCEB) has posted a report on the May 2007 Q&A session between JCEB representatives and EEOC officials. Highlights include . . . informal, nonbinding remarks covering a range of issues involving the Age Discrimination in Employment Act (ADEA), the Americans with Disabilities Act (ADA), and the Pregnancy Discrimination Act (PDA)." (Employee Benefits Institute of America)
Annual Report to Congress on Implementation of Administrative Simplification Provisions of HIPAA of 1996
Excerpt: "This report describes the activities related to implementation of the Administrative Simplification provisions of the Health Insurance Portability and Accountability Act of 1996 (HIPAA) during the past year and offers observations on the occasion of the 10th anniversary of the enactment of HIPAA." (National Committee on Vital and Health Statistics)
New Health Insurance Guide for Massachusetts from Georgetown University's Health Policy Institute
Excerpt: "Consumers, legislators, researchers, policy experts and social workers will all find this 49-page guide to the protections consumers have, and lack, as they seek health care coverage, of use. [You can download the guide from this page: http://www.healthinsuranceinfo.net/getinsured/massachusetts.]" (Health Insurance Consumer Information)
Regulators Discuss Proposed IRC Sec. 125 Regulations
Excerpt: "From Spencer's Benefits Reports: At a September 12 teleconference sponsored by the Employers Council on Flexible Compensation, three of the drafters of the recently proposed IRC Sec. 125 cafeteria plan regulations provided some additional insight into possible interpretations of the proposals." (Wolters Kluwer Law & Business)
Health Insurance Connectors & Exchanges: A Primer for State Officials (PDF)
6 pages. Excerpt: "The Commonwealth Health Insurance Connector Authority, or 'The Connector,' is one of the unique features of the 2006 comprehensive Massachusetts health care reform law that has sparked nationwide attention. The Connector is a structure designed by policymakers in Massachusetts to facilitate the purchase of affordable, high-quality health insurance by small businesses and individuals without access to employer-sponsored health insurance." (Robert Wood Johnson Foundation and AcademyHealth)
CMS Informally Responds to HIPAA Security Questions
Excerpt: "The Joint Committee on Employee Benefits (JCEB) of the American Bar Association has reported on its May 2007 Q&A session with CMS officials. The report includes . . . informal, nonbinding remarks about HIPAA security issues." (Employee Benefits Institute of America)
Trends; Surveys; Research
Flexible Work: Adjusting the When and Where of Your Job (PDF)14 pages. Excerpt: "Learn how to make a current job more flexible -- or how to find a more flexible one. Read about options that will let you work less, work at home, or work alternative hours. The sections describing these options include information about each arrangement, its pros and cons, and how to get it." (U.S. Bureau of Labor Statistics)
Retro Medicine: Doctors Making House Calls and Getting Paid a Hefty Price
Excerpt: "A new kind of medical practice is flourishing nationwide that offers to go to where the patients are -- whether a home, an office or a hotel -- to treat ailments as diverse as a sprained ankle or a bad case of bronchitis. Some services may even wheel in a mobile X-ray machine or an ultrasound machine, depending on the ailment, or perhaps pull out kits to test for strep throat or to draw blood. They may dole out medication on the spot or arrange for pharmacies to deliver prescriptions." (The New York Times; free registration required)
Results of the Findley Davies 2008 Health Care Trend Survey (PDF)
4 pages. Excerpt: "Instead of surveying employers about their expected 2008 health benefit costs (which factor in planned changes in deductibles, coinsurance, etc.) Findley Davies surveys health benefit underwriters for the trend factors they are using in their January 1, 2008 renewals." (Findley Davies, Inc.)
Policy; Opinion; Advocacy
Clinton Plan May Not Cure Rising Health CostsExcerpt: "[Clinton's] plan, like those of some of her rivals, builds on the existing employer-based system that for years has been unable to rein in medical-care costs, which have annually soared more than double the rate of overall inflation as companies shed restrictive HMOs for more access to providers." (Chicago Tribune; free registration required)
Editorial: The Battle Over Health Care Reform
Excerpt: "In 2008, when it comes to health care, which is emerging as a defining domestic issue, voters will find stark differences in philosophy and commitment between Democrats and Republicans." (The New York Times; free registration required)
Hewitt Federal Legislation Quick Guide Updated September 19, 2007, for Health and Welfare Plans (PDF)
7 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)
Links to Items on Executive Comp, Benefits in General
Overview: Guidelines for Deferred Compensation Arrangements Maintained by Tax-Exempt Entities & State & Local Governments
Excerpt: "By way of background, Section 457 of the Internal Revenue Code governs, with limited exception, all deferred compensation arrangements maintained by tax-exempt entities or state or local governments. Under Section 457, the arrangements must meet either Section 457(b) or Section 457(f)." (PlanAdvisor Magazine)
Backdating: Economic Analysis and Observations on the Stock Option Scandal
Excerpt: "This Article considers the effects of and several possible explanations for backdating non-executive options, including reducing apparent rank and file compensation. Finally, this Article argues that the backdating phenomenon is not an accounting scandal. Backdating has accounting consequences, but it is unlikely to have been accounting driven." (Boston University Law Review via Social Science Research Network)
Broad Definition Under Section 409A Creates Potential Pitfalls for Employers
Excerpt: "Voluminous final Treasury regulations were issued April 10 under Section 409A of the Internal Revenue Code. The section governs nonqualified deferred compensation arrangements -- a term that is broad in its reach. In addition to regulating traditional executive compensation and equity compensation arrangements, Section 409A also regulates compensation devices that many employers have not typically considered as deferred compensation." (Workforce Management; free registration required)
Overview: Deadline Extension for Some, but Not All, Sec. 409A Document Compliance Amendments (PDF)
7 pages. Excerpt: "On September 10, the Internal Revenue Service issued Notice 2007-78, which generally extends the deadline for making final plan amendments to comply with section 409A of the Internal Revenue Code . . . by one year, from January 1, 2008, to January 1, 2009. However, nonqualified deferred compensation plans, employment contracts and other arrangements will still need to be reviewed, and in some cases amended, by the end of 2007." (Pillsbury Winthrop Shaw Pittman LLP)
Hewitt Federal Legislation Quick Guide for September 19, 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)
409A: What Employers Need to Do by December 31, 2007 for 409A Compliance (PDF)
4 pages. Excerpt: "Lastly -- but perhaps most importantly -- design a system to track compliance with all operational requirements under the final regulations. The Notice requires that written plan amendments made during 2008 be retroactive to January 1, 2008 and that such amendments demonstrate how operational compliance with the requirements of the final regulations was achieved during 2008." (Womble Carlyle Sandridge & Rice, PPLC)
Overview: IRS Provision of Limited Relief from Looming IRC § 409A Deadline
Excerpt: "Unfortunately, the Notice does not extend (i) the deadline for making distribution election changes; (ii) the good faith compliance standard; or (iii) the transition rules. Accordingly, binding distribution elections that comply with 409A must be made in writing by the end of 2007." (Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.)
CCH Executive Compensation Update, September 2007 (PDF)
10 pages. Excerpt: "The newsletter contains articles titled: SEC Provides Significant Guidance on Executive Compensation Proxy Disclosures; SEC Proposes Registration Relief for Private Company Stock Options; Code Sec. 409A Compliance Deadline is Partially Delayed; Delaware Courts Continue to Develop Law on Option Award Timing; and, Use of Outside Counsel on Compensation Committee May Run Afoul of Code Sec. 162(m) Rules." (CCH Incorporated via Winston & Strawn LLP)
Summary of Employer Costs for Employee Compensation, June 2007
Excerpt: "In addition to retirement and savings the other benefit categories were: life, health, and disability insurance benefits, which averaged $2.32 (8.4 percent); legally required benefits, including Social Security, Medicare, unemployment insurance, and workers' compensation, which averaged $2.21 per hour (8.0 percent of total compensation); and paid leave benefits (vacations, holidays, sick leave, and other leave), which averaged $1.95 (7.0 percent)." (U.S. Bureau of Labor Statistics)
Newly Posted Events
401(k) Plans: Beyond the Basics
in California on October 25, 2007
presented by SunGard Relius
Compliance Assistance Seminar - Free
in Missouri on September 26, 2007
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
ERISA Workshop
in Colorado on October 18, 2007
presented by SunGard Relius
ERISA Workshop
in Tennessee on October 18, 2007
presented by SunGard Relius
ERISA Workshop
in Washington on October 19, 2007
presented by SunGard Relius
ERISA Workshop
in Illinois on October 25, 2007
presented by SunGard Relius
ERISA Workshop
in Wisconsin on October 26, 2007
presented by SunGard Relius
Newly Posted Press Releases
The Integrated Benefits Institute Offers Largest Benchmarking Database in U.S. Spanning Disability and Workers' Compensation Programs
Integrated Benefits Institute
National Retirement Partners Starts Next Round of Acquisition
National Retirement Partners, Inc.
Investment Partners with Business Logic to Offer Managed Accounts in DC Market
Envestnet Asset Management
SEC Issues 'Cease-and-Desist' Order to Callan Associates
NYTimes.com
GM, UAW Reportedly Talk Replacing Pension With 401(k)
Crain Communications, Inc.
Employers to Learn Tactics for Managing Ever-Increasing Costs of Employee Health Benefit Programs
Benefit Sources & Solutions
Avivia Health from Kaiser Permanente Launches Health and Productivity Optimization Product
Avivia Health
Yale Law Women Releases 2nd Annual List of the Top Ten Family-Friendly Firms
Yale Law Women
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs |
RSS Feed )
Pension Consultants/Administrators
for Northern NJ Mid-Size Pension Consulting Firm
in NJ
Defined Benefit Client Account Manager
for New York Life Retirement Plan Services
in MA
Senior Communications Consultant
for Boutique Communications Consulting Firm
in AZ
General Manager, Pension & Savings Plans
for Maersk Inc.
in NJ
401(k) Recordkeeper
for Retirement System Group Inc.
in NY
New Business Installation Team Manager
for Transamerica Retirement Services
in CA
Omni Experience Needed
for Prestige Staffing
in ANY STATE, CO
Institutional Trust Consultant - Baltimore, MD and Richmond, VA
for BB&T
in MD, VA
Account Manager (Insurance/TPA)
for Zenith Administrators
in WA
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: