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| August 19, 2008 |
| Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. |
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[Official Guidance] Text of IRS Rev. Proc. 2008-48: Treatment of Dependent by Noncustodial Parent When Custodial Parent Has Not Released Claim (PDF)
5 pages. Excerpt: "The Service will treat a child described in the scope section of this revenue procedure of taxpayers within the scope of this revenue procedure as the dependent of both parents under §§ 105(b), 106(a), 132(h)(2)(B), 213(d)(5), 220(d)(2), and 223(d)(2), whether or not the custodial parent releases the claim to the exemption under § 152(e)(2). . . . This revenue procedure is effective August 18, 2008. However, taxpayers may apply this revenue procedure in any taxable year beginning after December 31, 2004, for which the period of limitation on credit or refund under § 6511 has not expired as of August 18, 2008." (Internal Revenue Service)
[Guidance Overview] Employer Did Not Violate State Law or Employment Agreement When It Withheld COBRA Premiums from Severance Pay
Excerpt: "EBIA Comment: Addressing COBRA obligations in severance arrangements can be complicated. This case illustrates the need for clear language regarding the employer's COBRA payment obligations. In addition, although ERISA's preemption provision arguably blocks enforcement of state wage-withholding laws against ERISA plans, employers should nevertheless keep an eye out for the possible application of state restrictions when they withhold COBRA premiums from severance payments." (Employee Benefits Institute of America)
[Guidance Overview] CMS Posts Mandatory Reporting Guidance on Website
Excerpt: "EBIA Comment: Group health plan sponsors are likely to appreciate the 'one-stop shopping' website approach for guidance about how to comply with this new mandate. However, in addition to becoming familiar with the new guidance, it's also important to stay tuned! CMS indicates that future implementation details on the website will include a registration process, user guides for submitting data, and a suggested model form for collecting Medicare beneficiary information." (Employee Benefits Institute of America)
[Guidance Overview] No Breach of Fiduciary Duties by Broker or by Directors Who Selected Insurance Policy
Excerpt: "EBIA Comment: We thought this case was interesting for two reasons. The first is a reminder that fiduciary status is generally not an 'all or nothing' concept, but is a functional test that requires a determination of whether a person is a fiduciary regarding the particular activities in question. The second is this court's conclusion that deciding to purchase and renew a policy is analogous to the fiduciary function of choosing a plan service provider. This would seem to imply that ERISA's fiduciary standards, including its 'prudent person' rule, apply to a plan's selection of a particular policy among competing alternatives." (Employee Benefits Institute of America)
Health Care Debate May Hinge on Pooling
Excerpt: "Small businesses . . ., among the most hard-pressed in the country to find affordable health care, are hitching their wagon to a series of bills now before Congress which are designed to drive down health-care costs by allowing small firms to leverage their collective muscle through the formation of pools." (Reuters)
In Battle Against Rising Health Care Costs, Some Employers Finding Collaboration Works
Excerpt: "Increasingly, employers are engaging with local providers, inviting outsiders to take part in their on-site health fairs or investing in health information technology and health improvement research projects. While much of this collaborative work is being performed in conjunction with local business health coalitions, in some cases individual employers are breaking free from the pack and taking leading roles." (Workforce Management; free registration required)
Dependent Health Care Audits Become 'Hot Topic'
Excerpt: "A growing number of employers have launched dependent health care audits as a relatively painless effort to reduce health care costs." (Workforce Management; free registration required)
Health Plan Advisors' Role Is Expanding
Excerpt: "General Motors' decision last month to eliminate retiree health benefits highlights the growing role that outside advisors will play as employers divest themselves of retiree health care obligations. Stepping into the employer's role as health care advisors are companies like Extend Health, which GM hired last month to help retirees purchase health coverage on their own." (Workforce Management; free registration required)
Minn. Governor Seeks to Return Health Benefit Savings to State Employees as Health Reimbursement Arrangement
Excerpt: "Minnesota Gov. Tim Pawlenty (R) unveiled a series of initiatives intended to give consumers greater control of their health care, starting by giving each of the 50,000 state employees up to $250 in a health reimbursement arrangement (HRA) in 2009." (AISHealth.com)
Average LTC Costs Hikes More than Double
Excerpt: "The average rate of increase for cost of long-term care has seen a sizable jump in the last 24 months from 5% to 13% depending on the type of service, according to a Prudential Financial study." (PLANSPONSOR.com; free registration required)
WellNet Launches Online Social Networking Program for Health Care Coordination
Excerpt: "WellNet Healthcare this month will launch a test version of Point to Point Healthcare, a social network linking users' physicians, pharmacists and insurance benefit managers, the Washington Post reports. The online tool will allow employees of companies who use the program to connect their health care providers to facilitate treatments." (Kaiser Family Foundation)
[Opinion] Maximum Coverage As Defined by Anthem Blue Cross
Excerpt: "Letter From: Anthem Blue Cross, Oxnard, California . . . Enclosed you will find a Part D Coordination of Benefits Survey. By completing the survey, it will help assure that you receive the maximum coverage benefits from your drug plan. . . . What's this? Why would a generous offer from a health insurer to assist an insured in receiving maximum coverage benefits be included in a health policy forum? The reason is that the apparent intent of this request is very different from its true purpose, and that difference exemplifies one of the most fundamental flaws in our current health care financing system." (Physicians for a National Health Program)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview] Employer's Dollar Limit on Nontaxable Gifts Is Not Imposed by De Minimis Fringe Benefit Rules
Excerpt: "EBIA Comment: Many employers use a fixed dollar limit to identify gifts that will be considered de minimis, and thus not reported as income. As this information letter reminds us, though, the Code's de minimis fringe benefit rules do not set any fixed dollar limit -- they use a less precise standard. This puts employers in a difficult position. Making individualized determinations seems practically impossible but any fixed dollar limit may include too much or too little in income." (Employee Benefits Institute of America)
[Guidance Overview] MetLife v. Glenn Enters the Executive Compensation Arena
Excerpt: "The recent case of Sluimer v. Verity Inc. (N.D. Cal. 2008) involved a relatively routine question of whether a company properly denied severance benefits to a former employee under an ERISA plan. However, the case is significant for all executive compensation professionals because it marks the first entry of the U.S. Supreme Court's recent decision in Metropolitan Life Ins. Co. v. Glenn, 128 S. Ct. 2343, 2346 (2008), into the executive compensation arena." (Michael S. Melbinger via Winston & Strawn LLP)
A New Grad's Guide to Insurance
Excerpt: "If you want to save some money and protect what you've got (along with what you'll soon be earning), it's time to think insurance. You don't have to spend a bundle. Just putting a few bucks on the right kind of coverage can make a big difference in your life. And, with some jobs, it's just a matter of checking the right box on the benefits form." (FOX Business)
Newly Posted Events
401(k) Fees: What a Plan Sponsor Must Know
Nationwide on September 4, 2008
presented by AFS Financial Group
Advisory Council on Employee Welfare and Pension Benefit Plans
in District of Columbia on September 10, 2008
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Working Group on Hard to Value Assets and Target Date Funds
in District of Columbia on September 11, 2008
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Working Group on Phased Retirement
in District of Columbia on September 9, 2008
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Working Group on Spending Down Retirement Assets
in District of Columbia on September 10, 2008
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Newly Posted Press Releases
NIPA’s APA/APR Online Exam Registration Deadline Is October 15
National Institute of Pension Administrators
PBGC Responds To GAO Report On Investment Policy Implementation
Pension Benefit Guaranty Corporation (PBGC)
President Names Three Members To PBGC Advisory Committee
Pension Benefit Guaranty Corporation (PBGC)
U.S. Department of Labor’s ERISA Advisory Council Sets September 2008 Meetings
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Aon Corporation Named Industry's Best Retail Broker, Reinsurance Broker, Employee Benefits Consultant by Business Insurance Readers
Aon Consulting
CEBS Introduces A New Curriculum for the Group Benefits Associate (GBA) Designation
International Foundation of Employee Benefit Plans
New Disease Management Quality Measures Released For Public Comment
National Committee for Quality Assurance (NCQA)
Newly Posted or Renewed Job Openings
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Plan Administrator/Trust Accountant
for Thomas F. Barrett, Inc.
in DC, MD, VA
DC Testing Specialist
for Kravitz - Louis Kravitz & Associates
in ANY STATE, CA
Relationship Manager - Defined Contribution Plans
for Vanguard
in PA
401k Administrator
for Vanguard
in PA
Relationship Manager - Defined Contribution Plans
for Vanguard
in AZ
Compliance Specialist
for The Newport Group
in NC
Senior Compensation Analyst
for Teach For America
in NY
Pension Administrator
for Sentinel Financial Group
in MA
Retirement Plan Analyst
for Taylor/Webster
in TN
Retirement Plan Specialist
for Benefit Plans Plus, L.L.C.
in MO
Pension Analyst
for Benefit Plans Plus, L.L.C.
in MO
401(k) Plan Administrator
for Capital Retirement Plan Services, Inc.
in PA
Sr Calc/Complex Spec
for Prudential Financial
in CT
Retirement Plan Administrator
for Professional Capital Services, LLC
in PA
Senior Consultant
for Beasley & Company
in OK
Retirement Plan Sales
for Multi-Bank Holding Company
in CO
Plan Document Specialist
for Kravitz - Louis Kravitz & Associates
in CA
VP Retirement Plans Division Operations
for Mutual of Omaha
in NE
Handy Links:
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- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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