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| August 4, 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] Another Question is Answered in the Consumer-Driven Healthcare Reimbursement Accounts (HSAs, HRAs, Archer MSAs, Medicare MSAs) Q&A Column
Under what circumstances can an employer recoup its HSA contributions from the HSA custodian/trustee? (BenefitsLink.com)
[Guidance Overview] Maryland and the District of Columbia Pass Sick Leave Laws (PDF)
5 pages. Excerpt: "Continuing a trend of state and local jurisdictions imposing new paid leave requirements on employers, Maryland and the District of Columbia each recently passed legislation that significantly expands the right of employees to take paid sick leave. The District of Columbia joins San Francisco as the only jurisdictions that require employers to provide paid sick leave. Maryland joins California, Maine, Minnesota, New Jersey, and Washington State in requiring or regulating paid family leave." (Morgan, Lewis & Bockius LLP)
[Guidance Overview] Hewitt Federal Legislation Quick Guide Updated July 30, 2008, for Health and Welfare Plans (PDF)
6 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)
[Guidance Overview] U.S. Supreme Court Rules on How ERISA Benefit-Claim Fiduciaries Should Handle Conflicts of Interest
Excerpt: "The United States Supreme Court recently decided Metropolitan Life Insurance Co. v. Glenn ('MetLife'), giving critical guidance to ERISA fiduciaries who consider and decide benefit claims. The Court held that a conflict of interest inherently exists when a fiduciary both makes benefit eligibility decisions under a plan and funds those benefits (referred to by the Court as the 'evaluator/payor conflict'); that courts should consider this conflict as a factor when determining whether the fiduciary abused its discretion in denying benefits; and that the significance of the factor will depend upon the circumstances of the particular case." (Blank Rome LLP)
[Guidance Overview] COBRA Election Notice Not Required for Employee Covered Under Exempt Church Plan
Excerpt: "The employer in this case was correct in assuming that its plan was exempt from COBRA as a church plan, but determining whether a plan is a church plan isn't always easy. . . . Whether a plan is a church plan may depend on a detailed analysis of the organization's activities and the closeness of the religious affiliation." (Employee Benefits Institute of America)
[Guidance Overview] HHS Enters into Resolution Agreement With Covered Entity to Settle Potential Violations of HIPAA Privacy and Security Rules
Excerpt: "This Resolution Agreement may signal that enforcement efforts are picking up with respect to violations of the HIPAA privacy and security rules. Covered entities (whether providers or group health plans) must be vigilant about ongoing compliance with the HIPAA privacy and security rules -- the price of noncompliance can be hefty fines and penalties as well as the resulting adverse publicity." (Employee Benefits Institute of America)
MGM Mirage's Smoking-Cessation Program
Excerpt: "[The] program provides free telephone counseling and printed support materials, free nicotine replacement therapy including patches and gum, and free smoking-cessation drugs." (Workforce Management; free registration required)
Blues Plan Drops Co-pays for Retail Clinic Care
Excerpt: "The objective is to encourage plan members to use the retail clinics -- which cost less than physician's office visits, hospital emergency room or urgent care centers." (Workforce Management; free registration required)
Health Care: Can We Afford It?
Excerpt: "If current trends continue, the cost of healthcare reform will require far more money than discussed by the presidential candidates. And action -- or inaction -- will almost certainly have a great impact on both companies and workers." (Dallas Salisbury via Human Resource Executive Online)
Democratic Platform Drafts Health Care Plank
Excerpt: "In a draft of the platform, the party described health care as 'a shared responsibility between employers, workers, insurers, providers and government. All Americans should have coverage they can afford.'" (AP via The Plain Dealer)
Group Lobbies Paid Leave for Workers Who Donate an Organ
Excerpt: "A new outreach campaign from the American Society of Transplantation is encouraging employers of all sizes and types to establish a paid leave program for living organ donation. Twenty-nine states also have policies to give paid leave to organ donors, and many have related legislation pending. The federal government has had a paid leave policy since 1999, according to AST." (Employee Benefit News; free registration required)
Wired for Health Care Quality Act (S. 1693), Senate Floor Version (PDF)
93 pages. Excerpt: "To enhance the adoption of a nationwide interoperable health information technology system and to improve the quality and reduce the costs of health care in the United States." (U.S. Senate via American Benefits Council)
Wellness Programs Reduce Health Costs for Education Institutions
Excerpt: "A Sibson Consulting survey of higher education institutions found that those with lower health care costs were more likely to invest in wellness than those with higher health care costs." (PLANSPONSOR.com; free registration required)
Senate Finance Committee Hearing Focuses on Changing Tax Exclusion for Employers Who Offer Health Coverage
Excerpt: "Economists at a Senate Finance Committee hearing on Thursday discussed how tax code changes to employer-sponsored health insurance premiums could fund health care coverage for the uninsured, CQ HealthBeat reports." (Kaiser Family Foundation)
DOL Staff Members Provide Informal Views on Welfare Plan Topics at May 7, 2008, Meeting
Excerpt: "The Joint Committee on Employee Benefits (JCEB) of the American Bar Association has posted a report on the May 7, 2008 Q&A session between JCEB representatives and DOL staff members. Highlights include the following unofficial, nonbinding comments about COBRA premiums, wellness programs, reimbursement of individual health insurance premiums through HRAs, and offers of assistance in a non-English language." (Employee Benefits Institute of America)
[Opinion] Americans Need Federal Help with Retirement
Excerpt: "As more and more retirees are depleting their savings to pay for their health care needs, the federal government is not doing enough to fix this growing problem. On June 16th Congressman John McHugh (NY-23) and I introduced the Retiree Health Account Act (H.R. 6288) that would provide Americans with the tax incentives needed to set aside funds for retiree health costs." (Rep. John 'Randy' Kuhl via The Courier (NY))
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview] Hewitt Federal Legislation Quick Guide Updated July 30, 2008, on Human Resources & Employment Law (PDF)
9 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] IRS Issues Proposed Regulations on IRC Sec. 423 Employee Stock Purchase Plans
Excerpt: "The proposed regulations would provide a comprehensive set of rules governing stock options issued under an employee stock purchase plan and would incorporate substantially all of the rules contained in the existing regulations under Sec. 423." (Wolters Kluwer)
[Guidance Overview] SEC Releases Interpretive Guidance on New Executive Compensation Disclosure Rules (PDF)
Excerpt: "The interpretative guidance is briefly summarized . . . with the July 3, 2008 guidance presented in italics. [Originally published January 29, 2007; updated July 31, 2008]" (Frederic W. Cook & Co., Inc.)
[Guidance Overview] Section 409A Documentary Compliance Deadline Looms (PDF)
Pages 1-2 of 5 pages. Excerpt: "Although there is much to be done to have all plan documents and agreements compliant with section 409A by the end of 2008, taxpayers who have begun the process and even those who have not, but who take prompt action this summer, still should be able to meet the upcoming plan documentation deadlines." (Miller & Chevalier Chartered)
Adding Performance Criteria to Your Stock Options
Excerpt: "As performance-based long-term incentives have become more prevalent in the United States (US) in recent years, the question has arisen whether performance features should be extended to stock options. The consensus has been that stock options are inherently performance-based since no benefit is obtained unless the share price increases from the grant date value. While the addition of performance features to stock options is not yet a common practice in the US, we are seeing more (and at times notable) instances of their use." (Hay Group)
Executive Perquisites
Excerpt: "Hay Group's examination of 2008 proxy statements found that most companies now are disclosing all perks, even where they total less than $10,000 in value. Of course, some organizations follow the reporting requirements precisely and do not disclose the smaller perks." (Hay Group)
Same-Sex Couples Who Marry Could Be Eligible for a Number of New Benefits
Excerpt: "As part of its push to legalize g.ay marriage in New York State, the Pride Agenda joined with the New York City Bar Association to mine state and local law books and find privileges reserved for married couples, and came up with 1,324 items." (The New York Times; free registration required)
Employee Assistance Programs Can Combat the Negative Side Effects of Financial Problems
Excerpt: "In the last year, EAP programs have begun to see an increase in the volume of calls related to stress, depression and other work-life challenges. After talking through issues with an EAP professional, many of these individuals specify that financial challenges are a contributing factor to their underlying problems." (Employee Benefit News; free registration required)
Newly Posted Events
Designing Wellness Programs that Are Legal and Effective
Nationwide on August 27, 2008
presented by Thompson Interactive, A Division of Thompson Publishing Group
Employee Benefit Plans: A Unique Audit Challenge
in Massachusetts on August 12, 2008
presented by ASPPA Benefits Council (ABC) of New England
Privacy and Nondiscrimination in Genetic Testing Webcast
Nationwide on August 7, 2008
presented by West LegalEdcenter
VEBAs and Pre-Funding Retiree Health Benefits Webcast
Nationwide on September 17, 2008
presented by Global Media Dynamics
Newly Posted Press Releases
PBGC Solicits Strategic Investment Partnerships
Pension Benefit Guaranty Corporation (PBGC)
Connecticut Pension Trustees Sued By U.S. Labor Department For Misuse Of Plan Funds
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Actuaries to Policymakers: Fix Social Security, Start by Increasing Retirement Age
American Academy of Actuaries
Benefit Informatics Launches .mobi Website
Benefit Informatics
Newly Posted or Renewed Job Openings
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Regional Sales Manager
for Milliman, Inc.
in NY
Pension Administrator
for Platinum Pension Group, LLC
in MA
Data Conversion Specialist
for Vanguard
in PA
Managing Director - Northern California
for MassMutual Financial Group
in CA
Financial Services Firm - Client Manager
for Pension Advisors
in OH
Finance Manager – Pension & Benefits Administration
for Indiana Public Employees' Retirement Fund
in IN
401(K) & Pension Customer Service Representative
for The United Companies
in NY
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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