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July 23, 2008

Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy.


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[Guidance Overview] Recouping HSA Contributions Made for a Noneligible Employee
Excerpt: "If an employee was never an eligible individual, his/her employer may correct the error. At the employer's option, the employer may request that the financial organization return the amounts to the employer." (Wolters Kluwer)


[Guidance Overview] Court Rebuffs Fiduciary Breach Claim As Redundant in Claim for Benefits Case
Excerpt: "The Crider opinion offers several interesting insights. First, the case addresses an attempt to incorporate state law into an ERISA long term disability policy. Second, the case raises the nettlesome issue of when a fiduciary breach claim can be heard along side a claim for benefits." (Health Plan Law blog by Attorney Roy F. Harmon III)


Family Leave after Childbirth and the Health of New Mothers
Excerpt: "The purpose of this paper is to examine the association between family leave length, which includes leave taking by mothers and fathers, and behavioral and physical health outcomes among new mothers. Using data from the Early Childhood Longitudinal Study - Birth Cohort, we examine measures of depression, overall health status, and substance use." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext)


First-Ever Monetary Settlement Reached for HIPAA Violation (PDF)
2 pages. Excerpt: "On July 17, 2008, the Department of Health and Human Services ('DHHS') announced that it had entered into a Resolution Agreement with Seattle-based Providence Health & Services ('Providence') to settle potential violations of the Privacy and Security Rules. As part of this Agreement to resolve potential violations stemming from lost and stolen computers containing health information, Providence agreed to pay $100,000 and to implement a detailed corrective action plan to 'ensure that it will appropriately safeguard identifiable electronic patient information against theft and loss.'" (Dechert LLP)


Health Plan to 'Bring Down Premiums by $2,500 for the Typical Family' from Obama Spurs Debate
Excerpt: "Whether Mr. Obama can deliver is a matter of considerable dispute among health analysts and economists. While there is consensus that the American health care system is bloated with waste, eliminating enough to save $2,500 per family would require simultaneous and synergistic solutions to a host of problems that have proved intractable for decades." (The New York Times; free registration required)



Sponsored by: WorldatWork

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Banner ad for WorldatWork

WorldatWork publications in the BenefitsLink Bookstore

WorldatWork, a not-for-profit professional association, is a leading publisher of compensation, benefits and total rewards information. With a portfolio of books, reports, survey briefs, booklets and online learning programs, WorldatWork creates, markets and distributes publications that are critical to improved organizational performance. WorldatWork has contributed to the education and development of business professionals worldwide since 1955.

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)

Links to Items on Executive Comp, Benefits in General

[Guidance Overview] GASB 45 Standard Creates Accounting Quandary for Health Benefits in Retirement (PDF)
6 pages. Excerpt: "Differing opinions on discount rate selection under a new government accounting standard could lead local governments to unintentionally mislead creditors about their financial obligations for retiree health benefits." (American Academy of Actuaries)


[Guidance Overview] What Happens When Vested Stock is Traded for Nonvested Stock?
Excerpt: "The IRS has issued guidance on the tax consequences to an employee (or other service provider) of trading vested stock for nonvested stock. The Service did so in Revenue Ruling 2007-49." (Utz, Miller, Kuhn & Eickman, LLC)


[Guidance Overview] Understanding the Option Dating Controversies—Part IV: Best Practices
Excerpt: "Previous installments of this article series have discussed and analyzed the option backdating scandal itself and the myriad of legal and business related issues that have surfaced in its wake. These prior installments have served as a forensic study of sorts, dissecting the types of actions that have placed companies and individuals in the glaring eye of the regulators and class-action plaintiffs. As the final installment in the series, this article takes a more positive and forward-looking perspective, focusing on some of the things that companies can do, and should be doing, to minimize their exposure to backdating risks." (Employee Benefit Plan Review via Blank Rome LLP)


Employee Benefits Developments July 2008
Excerpt: "A brief look at developments in Employee Benefits law from June and July 2008, including cases, rulings, and opinions." (Hodgson Russ LLP)


More Employers Help Workers Deal with Legal Problems
Excerpt: "The number of large companies offering group legal plans rose to 33% in 2007, a 6% increase from 2006, according to the study [by work/life services provider Workplace Options]." (Employee Benefit News; free registration required)




Newly Posted Events

401(k) Plans
in Washington on September 23, 2008
presented by EBIA / Thomson Reuters

Cafeteria Plans
in Washington on September 24, 2008
presented by EBIA / Thomson Reuters

Cash Balance Plans Workshop
Nationwide on August 22, 2008
presented by SunGard Relius

COBRA Compliance for Group Health Plans
in Washington on September 26, 2008
presented by EBIA / Thomson Reuters

Code Section 409A Workshop
Nationwide on September 12, 2008
presented by SunGard Relius

Cross-Tested Plans Workshop
Nationwide on August 21, 2008
presented by SunGard Relius

ERISA Compliance for Health & Welfare Plans
in Washington on September 25, 2008
presented by EBIA / Thomson Reuters

Estate and Distribution Planning With Qualified Plans and IRAs Webcast
Nationwide on July 25, 2008
presented by ALI-ABA (American Law Institute-American Bar Association)

HIPAA Portability, Privacy & Security
in Washington on September 26, 2008
presented by EBIA / Thomson Reuters

HSAs, HRAs, and Consumer-Driven Health Care
in Washington on September 25, 2008
presented by EBIA / Thomson Reuters

The DOL's New Proposed Fee Disclosure Regulations
Nationwide on July 29, 2008
presented by Qualified Pension Consulting, Inc.

The DOL's New Proposed Fee Disclosure Regulations
Nationwide on July 31, 2008
presented by Qualified Pension Consulting, Inc.



Newly Posted Press Releases

U.S. Labor Department Proposes Regulations To Improve Disclosure Of Fees And Expenses To Workers With 401(k)–Type Benefit Plans
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

DOL Proposed Disclosure Regulations Represent Practical, Straightforward Approach To Retirement Plan Fees
American Benefits Council

GASB Exposes Proposed Technical Bulletin That Would Provide Guidance Regarding the Annual Required Benefit Contribution for Postemployment Benefits
Governmental Accounting Standards Board (GASB)

New Survey Shows Young People Increasingly Living on The Financial Edge
Qvisory



We're one of the top 350 employment sites on the web!Newly Posted or Renewed Job Openings
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Pension Administrator
for Jordan & Andrews
in CA

Compliance Account Manager
for First Niagara Benefits Consulting Group
in NY

Pension Administrator
for Estate & Pension Advisory Board, Inc.
in PA

Retirement Plan Specialist
for SVA Retirement Plan Services, LLC
in WI

Vice President & Actuary
for Prudential Financial
in CT

Retirement Plan Specialists
for Diversified Investment Advisors
in FL




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