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[Guidance Overview] Hewitt Federal Legislation Quick Guide Updated June 4, 2008, for Health and Welfare Plans (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 health and welfare benefit plans. (Hewitt Associates) Three Key Choices for Health Management Excerpt: "Employers can achieve significant, often dramatic labor savings and other financial gains in their health programs. But to do so, they need to do three things: focus on the most promising health challenges and employees; choose the right set of financial gains to measure in planning, implementing and evaluating investments; and select the best providers and interventions." (Workforce Management; free registration required) 20th Century Saw Unprecedented Advances in Longevity, but Alarms Sounding with Regard to Health Care Costs Excerpt: "The 20th century saw unprecedented advances in longevity, but alarms have been sounding for some time over the cost-benefit relationship of these twin goals. Some economists argue that extending healthy life is a great creator of wealth, while others worry that life-prolonging measures could imperil the very economies that finance them. This article focuses on the more quantifiable wellness part of Aristotle's formulation and the consequences of individuals and entire societies taking these twin–sometimes conflicting–objectives to extremes." (Michael J. Cowell via Society of Actuaries) Federal Health IT Strategic Plan: 2008-2012 (PDF) 115 pages. Excerpt: "The Plan has two goals, Patient-focused Health Care and Population Health, with four objectives under each goal. The themes of privacy and security, interoperability, IT adoption, and collaborative governance recur across the goals, but they apply in very different ways to health care and population health." (U.S. Department of Health & Human Services) Increasing Transparency in the Pricing of Health Care Services and Pharma.ceuticals (PDF) 8 pages. Excerpt: "Questions about transparency in health care costs extend beyond the prices for specific services and pharma.ceuticals. Workers pay for employment-based health insurance through reduced take-home pay, but those costs may not be evident to many of them. A greater awareness of the total costs of health care and who ultimately bears them might generate increased demand for efficiency in that sector." (U.S. Congressional Budget Office) Viewpoints: The Health Care Debate Excerpt: "This new series, Viewpoints: The Health Care Debate, features interviews with leaders of organizations representing health care providers, insurers, policymakers, employers, labor unions and consumers sharing their views on shortcomings in the nation's health care system and how it could be improved." (Kaiser Family Foundation) [Opinion] Online Health Records - Difference Between the Terms 'on the Internet' and 'Accessible Through the Internet' Excerpt: "As both a writer and a former software developer, I see a huge difference between the terms 'on the Internet' and 'accessible through the Internet.'" (eWEEK.com) [Opinion] Hearing: Rising Costs, Low Quality in Health Care - The Necessity for Reform The page provides links to member and witness statements. (U.S. Senate Committee on Finance) Sponsored by: WorldatWork (Click on company name or banner to learn more.)
Links to Items on Executive Comp, Benefits in General [Guidance Overview] Miller & Chevalier's Focus on Employee Benefits, June 5, 2008 (PDF) 6 pages. The newsletter offers articles on: Health FSA and Mental Health Parity; Qualified Plan Queries: Differential Pay Now Compensation Under Code Section 415 and New Distribution Feature; Qualified Plan Queries: Military Survivor and Disability Benefits Under Tax-Qualified Plans; Exec Comp Corner: New Code Section 887A Impacting Withholding on Certain Expatriates' Deferred Compensation. (Miller & Chevalier Chartered) [Guidance Overview] Hewitt Federal Legislation Quick Guide Updated June 4, 2008, on Human Resources & Employment Law (PDF) 10 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) [Guidance Overview] HEART Act Requires Employers to Provide Benefits to Employees Called to Military Service (PDF) 2 pages. Excerpt: "Certain HEART Act provisions are immediately effective for employee benefit plans. Plans generally must be amended to comply with the HEART Act provisions by the 2010 plan year." (Ballard Sphar) [Guidance Overview] Spring-Loading Options - Emerging Trends in the Law of Fiduciary Duty Excerpt: "This article was originally published in the Law Journal Newsletters – The Corporate Counselor, Volume 22, Number 12, May 2008. It is reprinted here with the publisher's permission. Delaware courts are beginning to analyze claims concerning the controversial practice of spring-loading options. Spring-loading is the granting of options just prior to the release of favorable company information (in the company's possession at the time of the grant)." (Winston & Strawn LLP) [Guidance Overview] Deadline Approaching for Amending Deferred Compensation Arrangements under Section 409A Excerpt: "All covered deferred compensation arrangements must be amended on or before December 31, 2008. The process of identifying and adopting any necessary amendments to existing compensation arrangements can be time consuming and complex. This update provides general background information on Section 409A and offers practical tips and guidance on actions that should be taken immediately in light of the upcoming deadline." (Perkins Coie LLP) [Guidance Overview] Issue Brief: The Final 409A Deferred Compensation Regulations The NCEO presents excerpts from its new issue brief on the final deferred compensation regulations under Section 409A of the Internal Revenue Code. (National Center for Employee Ownership) A Proposal for 'Hands-Off Options' Excerpt: "Despite recent reforms, public company executives can still use inside information to time their stock sales, secretly boosting their pay. They can also still inflate the stock price before selling. Such insider trading and price manipulation imposes large costs on shareholders. This paper suggests that executives' options be cashed out according to a pre-specified, gradual schedule. These hands-off options would substantially reduce the costs associated with current equity arrangements while imposing little burden on executives." (Social Science Research Network) Latest Options Backdating Settlement First to Include Consultant Excerpt: "Cablevision Systems Corp has agreed to a $34.4 million settlement of an investor lawsuit over its stock options award practices." (PLANSPONSOR.com; free registration required) Maximizing Retirement Compensation for Senior Executives Excerpt: "Given . . . restrictions, particularly for companies where retirement plan participation is low, finding additional ways to provide higher retirement income for senior executives can be important for recruiting and retention purposes. It takes good planning, but there are several options available. Generally, they include: Boosting overall retirement plan enrollment; Creating specific types of qualified retirement plans; Offering exclusive Supplemental Retirement and Compensation Plans (SERPs)" (Industrial Distribution) Employee Benefit Market Undergoing a Total Transformation Excerpt: "Before an audience of top benefits professionals and insurance carriers, Samuel Fleet, CEO, AmWINS Group Benefits, today gave brokers the stark choice to either adapt to marketplace changes or become extinct . . . ." (Managed Care Weekly Digest via NewsEdge via Human Resource Executive Online) [Opinion] Groom Law Group Weighs in on Supreme Court Debate over Conflict of Interest Case: MetLife Insurance Co. v. Glenn Excerpt: "At issue is whether and how a court will consider the fact that the same entity that funds a benefit plan also decides a participant's claim for benefits under the plan. Some courts have viewed this dual role as a conflict of interest that requires a more heightened standard of review of the benefit claim decision than otherwise would be required. Why should retirement plan administrators care about this case? Under current law, if the entity that funds the plan also decides claims for benefits under the plan, the standard of review of a benefit claim will vary, even though the facts are the same, depending on the court that reviews the benefit claim. The Supreme Court's decision in this case should provide a more uniform standard throughout the country." (Business Wire) Newly Posted Events Are You Ready For EGTRRA Restatements? Nationwide on June 10, 2008 presented by ftwilliam.com Are You Ready For EGTRRA Restatements? Nationwide on June 24, 2008 presented by ftwilliam.com Form 5500 Refresher Course Nationwide on June 18, 2008 presented by ftwilliam.com Newly Posted Press Releases Newkirk Adds Investment Change Notice To Targeted Communications Newkirk Pension Rights Center Asks Congress to Protect Workers’ Retirement Security in Corporate Bankruptcies Pension Rights Center ftwilliam.com announces free trial of InfoLink until July 31st ftwilliam.com SunTrust Investment Services Announces Simplified Retirement Planning Program, Retirement GamePlan(TM) SunTrust Banks, Inc. Newly Posted or Renewed Job Openings (Post a Job | View All Jobs | RSS Feed ) Data Conversion Specialist for Vanguard in PA Benefits Consultant for Northwestern Benefit Corporation of Georgia in GA Pricing Consultant/Underwriter for Diversified Investment Advisors in NY Client Services Manager Retirement Services for Charles Schwab & Company in AZ Director – Relationship Management for Charles Schwab & Company in AZ Product Manager for Prudential Financial in NJ Sr. Retirement Plan Administrator for Charles Schwab in TX Proposal Writer-Retirement Services for Charles Schwab in AZ, MA, OH Handy Links:
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