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(a) New Guidance Documents (None today.) (b) News U.S. Senator Chides Pharmaceutical Company for Bumping $40 Drug with $2,000 Version Excerpt: "Although it's not stopping the off-label use of [the company's $40 drug, Avastin], Genentech did announce in October a move that some fear will make it harder for physicians to prescribe the medication. . . . Some have asked Genentech to conduct a study comparing the effectiveness of [the company's $2,000 drug, Lucentis] and Avastin in treating [age-related macular degeneration], but the company has no plans to do so." (Contra Costa Times via Physicians for a National Health Plan) Federal District Court Dismisses Health Coverage Contribution Challenge Excerpt: "Polyester plant retirees were hit with a legal defeat as a federal judge in Ohio threw out their class action lawsuit alleging their former employer illegally required them to pitch in to pay for their health care benefits." (PLANSPONSOR.com; free registration required) (c) Summaries of Guidance; Filed Comments Options for Managing the Cost and Risk Associated with Retiree Health Coverage, Including Remarks on the Current Interest in VEBAs (PDF) 2 pages. Excerpt: "Employers that are interested in adopting [the VEBA strategy for the funding of retiree health benefits] should note its limited applicability. . . This [article] presents an overview of strategies for addressing retiree health liabilities, including advantages and disadvantages. It also briefly notes factors employers should consider . . . ." (Sibson Consulting) (d) Trends, Surveys, Research UAW-GM Health Model to Be a Test for Retiree Health Benefits, Especially Union Involvement in Healthcare Excerpt: "The numbers give the UAW bulk buying power and enough clout to bring costs down, according to some experts. Retirees, now on the same team as the entity paying their bills, will have incentives to live healthier and limit their health care use. Some observers also say the move will lead the union to step up its lobbying efforts for a national health-care system." (AP via ChicagoTribune.com) (e) Policy, Opinion, Advocacy Towers Perrin Legislative Tracking Charts - Health and Welfare (PDF) 51 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin) Links to Items on Executive Comp, Benefits in General November 2007 Employee Benefits Update from Reinhart Boerner (PDF) 9 pages. Nice overview for retirement and health plans, including selected compliance deadlines and a discussion of IRS guidance on yield curve and segment rates for calculating pension plan funding and lump sum interest rate. (Reinhart Boerner) Towers Perrin Legislative Tracking Charts - Human Resources (PDF) 12 pages. Excerpt: "These charts summarize selected federal legislation that would affect employer benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin) Newly Posted Events Deferred & Executive Compensation Conference in District of Columbia on December 5, 2007 presented by U.S. Chamber of Commerce's Center for Capital Markets Competitiveness and the ERISA Industry Committee Update on Disability Discrimination with Craig J. Davidson, CEBS Nationwide on January 15, 2008 presented by Davidson Marketing Group -- FutureOffice Network Newly Posted Press Releases Most PBGC Retirees Receive Full Earned Benefit, Study Shows Pension Benefit Guaranty Corporation (PBGC) Labor Department Court Order Bars West Virginia Investment Advisor From Providing Service To Employee Benefit Plans U.S. Department of Labor, Employee Benefits Security Administration (EBSA) Survey Finds Many Employers Are Using Automatic Features in Defined Contribution Plans International Foundation of Employee Benefit Plans ftwilliam.com announces the release of its 2007 Form 5500 software ftwilliam.com Research Confirms Correlation Between PBM Transparency and Employer Satisfaction Pharmacy Benefit Management Institute (PBMI) Jason Jaworoski Lambert & Carney Benefits Group, LLC 401k Coach ~ Announces Master's Program in 2008 401k Coach Program Veterinary Pet Insurance Poll Reveals Insured Pets Visiting the Doctor More Than People Veterinary Pet Insurance Partnership for Workplace Mental Health Launches Database of Employer Innovations American Psychiatric Foundation Newly Posted or Renewed Job Openings (Post a Job | View All Jobs | RSS Feed ) Senior Retirement Plan Consultant, Defined Contribution/Daily Valuation (DC/DV) for BenefitStreet in NY Pension Administrator for Howard A. Feinstein Associates, Inc. in IL Director-Project Management for MassMutual Financial Group in MA Retirement Services Facilitator for National Life Group in VT Account Executive - Retirement Services for The Principal Financial Group in OH Defined Benefit Plan Administrator for Howard Simon & Associates in IL Director, Project Manager for MassMutual Financial Group in CT Staff Assistant for Benefit Services of Hawaii in HI Account Manager, Employee Benefits for ABD Insurance and Financial Services in CA Producer, Special Accounts for ABD Insurance and Financial Services in CA Consulting/Marketing Manager for Associated Pension Consultants in CA Supervisor, Investment Processing for Princeton Retirement Group, a Merrill Lynch Co. in NC Knowledge Management Editor for Administaff in TX Handy Links:
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