Today's sponsor is Employee Benefits Institute of America (EBIA) (Click on company name or banner to learn more.)
[Guidance Overview] Landmark Genetic Nondiscrimination Legislation Excerpt: "[President] Bush signed the Genetic Information Nondiscrimination Act of 2008 ('GINA'), which Congress passed in late April. GINA sets forth new nondiscrimination prohibitions that apply to group health plans, health insurance companies and employers." (Kilpatrick Stockton LLP) House Approves FSA Funds for Reservists Called to Duty Excerpt: "Legislation approved Tuesday, May 20, by the House of Representatives would allow individuals called up from the reserves for active military service for at least six months to take unused balances in their health care flexible spending accounts as a taxable distribution." (Workforce Management; free registration required) Massachusetts Refines Health Care Coverage Rules Excerpt: "Massachusetts regulators plan to clarify final rules soon on the design requirements of health plans state residents must be enrolled in to avoid financial penalties." (Workforce Management; free registration required) Text of the Contra Costa County, California, Grand Jury Report on OPEBs (PDF) Excerpt: "Contra Costa County has reached a critical juncture regarding its escalating retiree health care benefit costs. The unfunded financial liability is now estimated to be approximately $1.74 billion. That figure is more than Contra Costa County's total annual operating budget, and nearly equal to the unfunded liabilities for Alameda, Orange, and San Diego Counties combined." (Contra Costa County, California) Wellness Panel Explains Bottom Line for Initiatives Excerpt: "Money and culture are two of the biggest challenges to starting healthy programs in the workplace, according to a panel of wellness program professionals. Four regional wellness experts gave their views at a recent Michigan Business Review roundtable to discuss priorities and changing issues in employee health initiatives." (Michigan Live LLC) New Florida Law Allows Low-Cost Health Policies Excerpt: "With considerable fanfare, Gov. Charlie Crist traveled the length of his state on Wednesday to sign a bill aimed at providing low-cost health coverage to the uninsured by allowing the sale of stripped-down insurance policies." (The New York Times; free registration required) Genetic Information Nondiscrimination Bill Signed into Law Excerpt: "The measure bars employers from using information from genetic testing to hire, fire, or promote workers, and also prohibits insurance companies from using genetic testing results for determining eligibility or setting premiums . . . .' (PLANSPONSOR.com; free registration required) Wellness Programs Win Employer Awards for Promoting Healthy Lifestyles Excerpt: "The fourth annual Best Employers for Healthy Lifestyles awards recognized more than 50 U.S. employers for their efforts to promote healthy work environments and lifestyles for employees." (PLANSPONSOR.com; free registration required) Insurers Urge Gov. Rell To Veto Legislation That Would Expand State Employee Health Insurance Pool Excerpt: "Connecticut Gov. Jodi Rell (R) on Monday released letters from two insurance companies that raised concerns about the cost of legislation that would allow workers at small businesses, municipalities and not-for-profit groups to join the state employee health insurance pool, the Hartford Courant reports." (Kaiser Family Foundation) Sponsored by: WorldatWork (Click on company name or banner to learn more.)
Links to Items on Executive Comp, Benefits in General Consider a Matrix of the Key Roles and Responsibilities for the Compensation Process and Governance Excerpt: "As the executive compensation process continues to become more complex important, and investors, the media and some plaintiffs' lawyers continue to focus on it, more companies and compensation committees are creating a matrix of the key roles and responsibilities of the parties involved in compensation and governance. These parties include the Compensation Committee, the full Board, the CEO, and HR and other company management, inside counsel and/or outside counsel and the compensation consultant. The input of each party is critical in preparing the matrix." (Michael S. Melbinger of Winston & Strawn LLP) Comprehensive Executive Compensation 'Reform' Bill Introduced into Senate (PDF) 4 pages. Excerpt: "Senator Clinton's bill is a broad response to concerns over executive pay practices at publicly traded companies, and it is currently unclear whether it will be voted out of Committee. As of the date of this writing, there are no co-sponsors; however, it is realistic to expect that similar legislation will be introduced next year under a new Administration." (Frederic W. Cook & Co., Inc.) Wachovia Offers Employees Three-Year Leave Plan Excerpt: "The program does not grant job protection. Once on leave, individuals are considered inactive employees and their benefits are on hold. But the program provides a formal way for employees to maintain a presence with the nation's fourth-largest bank." (Workforce Management; free registration required) House Bill Extends Benefits Breaks to Active Reservists Excerpt: "Several provisions of a bill passed unanimously by the U.S. House of Representatives - including one allowing penalty-free withdrawals from a flexible spending account – affect workplace benefits for armed services members. The bill (H.R. 6081), the Heroes Earnings Assistance and Relief Tax (HEART) Act of 2008, gives a series of tax breaks and other economic incentives to U.S. Armed Services members. Representative Charles B. Rangel (D-New York) was the sponsor of the measure that passed 403 to 0." (PLANSPONSOR.com; free registration required) Newly Posted Events Account-Based Health Plans: What Works, What Doesn't and Why Webcast Nationwide on June 19, 2008 presented by International Foundation of Employee Benefit Plans ERIU Interactive Webinar to Examine How the Health Reform Landscape Has Changed Since 1994 Nationwide on June 2, 2008 presented by Robert Wood Johnson Foundation Gearing Up For A Downturn - A Primer On Key Benefits Issues -- Free Webinar Nationwide on June 3, 2008 presented by Ogletree Deakins Lessons Learned From Hawaii's Prepaid Health Care Act Webcast Nationwide on June 5, 2008 presented by International Foundation of Employee Benefit Plans Retirement Plans in Mergers and Acquisitions: An Overview Nationwide on June 12, 2008 presented by SunGard Relius The Latest on Federal Legislative and Regulatory Activity for Public Plans Webcast Nationwide on June 10, 2008 presented by International Foundation of Employee Benefit Plans Newly Posted Press Releases Large Employers Slow Changes to Retirement Plans, Watson Wyatt Finds Watson Wyatt U.S. Secretary of Labor Elaine L. Chao Highlights Accomplishments in Reforming Employee Benefits System at ‘DOL Speaks’ Conference U.S. Department of Labor, Employee Benefits Security Administration (EBSA) Employers Using Benefits to Help Employees Fill the Tank Society for Human Resource Management (SHRM) National Coalition on Benefits Marks Milestone 100 Members Strong, Still Growing National Coalition on Benefits Leading Pioneer of Retirement Advice is Providing The "411" on 401(k) Investing Scarborough Capital Management, Inc. Pacific Life Extends Support to the 401k Market Pacific Life New Retirement Organization Issues First Research Brief, Launches Web Site National Institute on Retirement Security STOP Obesity Alliance Announces New Research Indicating That Employers Want to Address Obesity in the Workplace, Need More Guidance Strategies to Overcome and Prevent (STOP) Obesity Alliance Newly Posted or Renewed Job Openings (Post a Job | View All Jobs | RSS Feed ) Compliance Testing Consultant for Diversified Investment Advisors in NY 401(k) / Defined Contribution Administrator for Pension Investors Corp. in FL Director, Plan Services for Diversified Investment Advisors in NY Sales Implementation Specialist for ePlan Services, Inc. in CO Employee Benefits Service Coordinator for Growing Financial Services Firm in TX Retirement Distribution Manager for Charles Schwab & Company in AZ Defined Contribution Analyst for Medium sized TPA firm in Central Ohio in OH Defined Benefit/Defined Contribution Administrator for Red Bank Pension Services, Inc. in NJ IRA Product Manager for Merrill Lynch in NJ ML Retirement Income Service Product Manager for Merrill Lynch in NJ 401(k) Administrator for Pension Performance, Inc. in IL Nonqualified Deferred Compensation Consultant for Retirement Capital Group, Inc in CA Handy Links:
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