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| November 9, 2007 |
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(a) New Guidance Documents
(None today.)
(b) News
Arkansas Unveils Health Program for Workers
Excerpt: "Arkansas state employees can earn days off for quitting smoking, eating more fruits and vegetables and other healthy changes under a new incentive program, Gov. Mike Beebe and health officials announced . . . ." (The Washington Post; free registration required)
Paid Sick-Day Bill Right Prescription for Massachusetts, Doctors, Labor Say
Excerpt: "Advocates for a law requiring employers to give workers paid sick days told legislators yesterday that almost half of the state's work force gets no paid sick days, leading to employees often choosing to come to work sick and spreading contagious illnesses rather than risk losing pay or their jobs." (Worcester Telegram & Gazette)
Benefits Included in Calculating Disability, According to Court
Excerpt: "The North Carolina Court of Appeals ruled Tuesday that U.S. Airways Inc. must include its contributions to an employee's savings and pension plans when calculating disability benefits for a workplace injury." (Business Insurance)
(c) Summaries of Guidance; Filed Comments
Overview of Buck's Submitted Comments on Proposed Regs Under Section 125 of the Internal Revenue Code (PDF)
2 pages. Excerpt: "Given the complexity of the nondiscrimination provisions of the new proposed regulations, we urged the IRS to consider the following actions -- Define the term 'highly compensated individual' in the same way as for pension, dependent care and adoption assistance purposes. Provide clear examples regarding performance of the eligibility test and the logic behind the result. Provide further guidance on the valuation of qualified benefits. The value should be the total nontaxable value of the coverage and should include both employer costs and employee salary reduction contributions. Replace the concept of 'uniform' coverage with 'nondiscriminatory' coverage to enable employers to provide less expensive health coverage to lower paid employees. Allow plans to be freely disaggregated for testing purposes. Permit snapshot date testing for eligibility and benefits. Provide a voluntary correction mechanism for violations." (Buck Consultants)
Overview: IRS Provides More Time to Comply With Transportation Benefit Debit Card Guidance (PDF)
1 page. Excerpt: "The IRS has delayed the effective date of previously issued guidance on using smartcards, debit cards and other electronic media to provide qualified transportation fringe benefits under Section 132(f)." (Buck Consultants)
(d) Trends, Surveys, Research
Health Insurance: Overview and Economic Impact in the States
Excerpt: "A compendium of reference information on health insurance in the states. [The target page has links to the 64-page report and to each state.]" (America's Health Insurance Plans)
Overview of Estimates of Public Employee Retiree Health Costs in Texas
Excerpt: "The bills for the long-term health insurance for public employees in Texas are coming due, and as expected, the first one is a whopper. The Teacher Retirement System, one of the nation's largest pension funds, said this week it faces a $19 billion unfunded liability in providing health care and life insurance benefits to current and future retirees." (The Austin American-Statesman)
Cost of Care Was 4.4% Lower for CDHP Members, According to Study
Excerpt: "From Spencer's Benefits Reports: The cost of care for members in consumer-driven health plans (CDHPs) was 4.4% lower than the cost of care for members in more traditional plans, according to research released by Minnesota-based health insurer HealthPartners." (Wolters Kluwer Financial Services)
Record Number of Britons Go Abroad for Health Care
Excerpt: "Record numbers of Britons are flying abroad for medical treatment to escape NHS waiting lists and the rising threat of hospital superbugs. Thousands of 'health tourists' are going as far as India, Malaysia and South Africa for major operations -- such is their despair over the quality of health services." (telegraph.co.uk)
State Level Health Information Exchange: Roles in Ensuring Governance and Advancing Interoperability (PDF)
36 pages. Excerpt: "This report outlines a potential framework for organizing HIE functions and formalizing organizational and sector roles and responsibilities. It synthesizes field research and provides recommendations to be considered for strengthening and expanding HIE capacity, capitalizing on the important contributions of state-level HIE initiatives." (Foundation of Research and Education of the American Health Information Management Association)
(e) Policy, Opinion, Advocacy
Presentation: Assessing Proposals for Health Reform
33 slides. Excerpt: "Grace-Marie Turner gave the keynote address at the Utah Association of Health Underwriters' Education Conference on November 8, 2007." (Galen Institute)
Opinion: Health Care Excuses
Excerpt: "The United States spends far more on health care per person than any other nation. Yet we have lower life expectancy than most other rich countries. Furthermore, every other advanced country provides all its citizens with health insurance; only in America is a large fraction of the population uninsured or underinsured." (The New York Times; free registration required)
Editorial: Veterans Without Health Care
Excerpt: "Although many Americans believe that the nation's veterans have ready access to health care, that is far from the case. A new study by researchers at the Harvard Medical School has found that millions of veterans and their dependents have no access to care in veterans' hospitals and clinics and no health insurance to pay for care elsewhere. Their plight represents yet another failure of our disjointed health care system to provide coverage for all Americans." (The New York Times; free registration required)
Health Policy Issues at the National Conference of State Legislatures, A to Z
Excerpt: "The NCSL health programs and staff collect information related to many state and federal health issues. The programs track legislative action in the states, identify new and important research and the effects on public policy and disseminates information about state innovations. Most of the issues that the programs study and track are listed [on the target page with links to the resources and articles]. " (National Conference of State Legislatures)
Legislator Harmony Could Spell Spread of Massachusetts 'Connector'-Type Programs
Excerpt: "The fact that the leadership of the Senate Finance committee were 'saying many of the same things' when they met recently to discuss small business health insurance coverage could spell support for the spread of a Massachusetts-style 'connector' approach to expanding health coverage." (Employee Benefit Advisor; free registration required)
Links to Items on Executive Comp, Benefits in General
Ethics of Options Repricing and Backdating
Excerpt: "So much interest and concern over stock option backdating and repricing, evinced by so many individuals and organizations, bodes poorly for the legitimacy of the potential motives for such actions. Such actions cannot withstand examination under any ethical test and should raise concern among investors, creditors, executives, and boards of directors. Based on the outcome of the Brocade case, such concerns have permeated the minds of potential jurors and thus the wider public." (New York State Society of CPAs)
Options Backdating: Corporate Governance Remains a Challenge
Excerpt: "Perhaps more than anything else, however, the options-backdating scandal should remind investors, auditors, and analysts about the need to remain vigilant of the means by which the combination of poor corporate governance, lax regulatory oversight, and the lack of controls can result in financial shenanigans." (New York State Society of CPAs)
SEC Confirms Zions Bancorporation's ESOARS and Auction Process Meet the Measurement Objectives of FAS123R (PDF)
3 pages. Excerpt: "The SEC advised Zions Bancorporation in an October 17, 2007 letter from the SEC Chief Accountant that the SEC did not object to the Company's view that its Employee Stock Option Appreciation Rights Securities (ESOARS) were 'sufficiently designed to meet the measurement objective of Statement 123R' and that the market-clearing price of the ESOARS auctioned from May 4-7, 2007 is a 'reasonable estimate of the fair value of the underlying employee stock options granted on May 4, 2007.'" (Frederic W. Cook & Co., Inc.)
Spotlight on SERPs: More Disclosure, More Questions
Excerpt: "This Perspective looks at why companies need to better understand the competitive aspect and the terms and conditions of their SERPs, and how changes in direct compensation (base pay and bonuses) can affect the amount of SERP benefits and their integration in the total remuneration strategy." (Mercer LLC; free registration required)
IRS Seeks Applications for TE/GE Advisory Committee
Excerpt: "The Internal Revenue Service is seeking applications for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT). The committee provides a venue for public input into critical tax administration areas. Vacancies exist in the following customer segments: Employee Plans - two vacancies, Exempt Organizations - two vacancies, Federal, State, and Local Governments - two vacancies, Indian Tribal Governments - one vacancy, and Tax Exempt Bonds - one vacancy." (Internal Revenue Service)
Bill to Change USERRA Advances in House
Excerpt: "The House Ways and Means Committee has approved new legislation making a number of changes in tax law affecting U.S Servicemembers and their families. Several apply to retirement, survivor and disability benefits, including modifications to the Uniformed Services Employment and Reemployment Rights Act (USERRA) and a new requirement that must be met if plans are to maintain their tax-qualified status." (National Council on Teacher Retirement)
Newly Posted Events
DOL Speaks: Hot Topics in ERISA Litigation - Co-Sponsored by the American Benefits Council
Nationwide on November 13, 2007
presented by Paul, Hastings, Janofsky & Walker LLP
What's Ahead for Disease Management: The Evolution From Chronic Disease Management Toward Integrated Care and Health Management - Webcast
Nationwide on December 4, 2007
presented by Health Resources Online
Newly Posted Press Releases
More Employers to Offer Workers Financial Incentives for Healthy Behavior; Top Programs Integrate Health Management With Business Objectives, Watson Wyatt/National Business Group on Health Survey Finds
Watson Wyatt
George Koklanaris Named Chief Of Staff At The PBGC
Pension Benefit Guaranty Corporation (PBGC)
Plan Now to Get Full Benefit of Saver's Credit; Tax Break Helps Low- and Moderate-Income Workers Save for Retirement
Internal Revenue Service (IRS)
The Principal Financial Group Eases Fiduciary Responsibilities for ESOP Plan Sponsors
Principal Financial Group
Sandy McCarthy Named CitiStreet President
CitiStreet
Report Reveals Differences in How Small Business Employers and Employees View the Need for 401(k)
ShareBuilder
AFS Financial Group To Offer Enhanced 401(k) Consulting Services
AFS Financial Group
Newly Posted or Renewed Job Openings
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Manager - Benefits
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Financial Services Associate (DC Plan Administration)
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Retirement Plan Administrator
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in WI
Team Support Specialist
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in WI
401(k)/DC Plan Administrator/Manager
for 401(k)/DC TPA firm
in CT
Pension Director
for Large Taft-Hartley Trust Fund
in CA
Manager, Participant Services
for BISYS Retirement Services
in MN
Client Service Supervisor
for Decimal, Inc. - TheOnline401k
in CA
Defined Contribution Administrator
for Merit Benefits Group, Inc.
in IL
Pension Actuary
for The Guardian Insurance Company
in NY
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