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[Guidance Overview] Sixth Circuit Refuses To Vest Health Care Benefits Before Active Union Workers Actually Retire Excerpt: "In a rare retiree benefits decision favorable to employers, the Sixth Circuit refused yesterday to find that a long-expired labor contract (CBA) between Caterpillar Inc. and the United Automobile Workers of America ('UAW') vested (i.e., guaranteed) lifetime retiree health care benefits for active workers when they became eligible for pensions and years before they actually retired. Winnett v. Caterpillar Inc., 2009 WL 170598 (6th Cir. 2009)." (Seyfarth Shaw LLP) House Democrats Introduce Legislation That Would Allow Medicare To Offer Prescription Drug Plans That Compete With Private Plans Excerpt: "Congressional Democrats on Tuesday introduced legislation (HR 684, S 330) that would allow traditional Medicare to establish one or more plans to compete with private plans under the prescription drug benefit, CQ HealthBeat reports. In addition, the legislation, sponsored by Senate Majority Whip Richard Durbin (D-Ill.) and Reps. Marion Berry (D-Ark.) and Jan Schakowsky (D-Ill.), would strengthen the ability of Medicare beneficiaries to appeal denials of coverage for medically necessary medications under all Medicare Part D plans. The legislation also would require the HHS secretary to negotiate directly with pharma.ceutical companies for the prices of medications under Part D." (Kaiser Family Foundation) Companies Moving Boldly To Stem Health-Care Spending (PDF) 4 pages. Excerpt: "This article from 'Financial Executive' discusses the steps finance and human- resource leaders are taking to stem health-care spending in the current economic crisis." (Financial Executive via Towers Perrin) Employers Decry COBRA Expansions as Congress Moves Forward Excerpt: "As Congress moves forward on an economic recovery plan that would both expand and subsidize COBRA coverage, employer groups are voicing their concerns that while the goal of the COBRA amendments is increased affordability for employees, the end result will be higher costs for both employers and employees. On Jan. 27, the Senate Finance Committee approved by a 14 to 9 margin an economic recovery package that would: entitle COBRA qualified beneficiaries to a 65-percent subsidy of premiums for continuation coverage for up to nine months if an employee incurs an involuntary termination of employment - except due to gross misconduct - between Sept. 1, 2008, and Dec. 31, 2009; provide a special 60-day election period; and require COBRA notices to be modified." (Thompson Publishing Group Inc.) Health Insurance Continuation Coverage Under COBRA (PDF) 13 pages. Excerpt: "This report provides background information on continuation health insurance under COBRA and on the COBRA population." (Congressional Research Service) COBRA Expansion Won't Benefit Most Low-Income Workers Excerpt: "To be eligible for COBRA, workers need to have had insurance before being laid-off. Those who worked but did not receive health insurance benefits as well as those who have been out of employment for an extended time will get no help from the proposed COBRA changes." (Economic Policy Institute) Google Opposes Sale of Personal Medical Info Excerpt: "Google, which last year launched Google Health, a personal online repository, was quick to refute a charge by a . . . consumer group, called Consumer Watchdog, of 'a rumored [Google] lobbying effort aimed at allowing the sale of electronic medical records.' . . . Google's ear is likely fine tuned to this issue, considering some folks in the medical community have already pointed out the company is not a type required to follow a federal patient-privacy law called HIPAA." (Health Blog on Wall Street Journal) University Conference Services (Sponsor) (Click on company name or banner to learn more.)
Links to Items on Executive Comp, Benefits in General [Guidance Overview] Update: Employee Benefits Aspects of Same-Sex Marriages (PDF) Pages 4-5 of 7. Excerpt: "[Trucker Huss previously] discussed the potential implications that the May 15, 2008 California Supreme Court . . . decision regarding the ability of same-sex couples to get married under the laws of the State of California could have on qualified pension plans, health and welfare plans, and non-qualified deferred compensation plans (collectively, 'plans'). The purpose of this article is to provide an update on the status of same-sex marriages in California and the possible consequences for sponsors of such plans." (Trucker Huss) [Guidance Overview] Executive Compensation Issues to Know About in 2009 (PDF) Pages 1-6 of 8. Excerpt: "This newsletter provides an overview of the following seven areas of executive compensation: Applicable to Most Employers: The IRS correction program for certain operational violations of [IRC section 409A]; Reporting obligations for incentive stock options (including ESPP grants) that must be made by January 31; The U.S. Department of Labor Top Hat filing requirements for nonqualified plans subject to [ERISA]; Relief from W-2 and 1099-MISC reporting obligations for deferrals made under arrangements subject to Section 409A; Applicable to Publicly Traded Employers: Preparing for the 2009 Proxy Season . . . . The 8-K filing obligations for nonqualified deferred compensation plans sponsored by reporting companies; Applicable to Certain Financial Institutions: The Troubled Asset Relief Program ('TARP')." (Trucker Huss) Newly Posted Press Releases PBGC Assumes Hull House Association Pension Plan Pension Benefit Guaranty Corporation (PBGC) U.S. Department Of Labor Obtains Judgment Restoring 401(k) Assets To Employees Of Defunct Acworth, Georgia, Construction Company U.S. Department of Labor, Employee Benefits Security Administration (EBSA) Fidelity Reports on 2008 Trends in 401(k) Plans Fidelity Investments New Web-Based Tool Helps Advisors Identify Optimal Roth Conversion Ratio Convergent Retirement Plan Solutions, LLC Company Founded To Educate Employees On 401(k) Plans And Lower Employer's Liability Venture (k) Corp. Newly Posted or Renewed Job Openings (Post a Job | View All Jobs | RSS Feed ) Account Administrator 1 for Alerus Financial in MN Vice President, Health & Welfare Advisory Services for Sapers & Wallack, Inc. in MA Benefits Manager for Pomona Valley Hospital Medical Center in CA Field Marketing Specialist for Financial Engines in MA Retirement Services Specialist for Administaff, Inc. in TX Sr. DC Client Consultant for Prudential Financial in CT Benefits Product Specialist for Ceridian in FL Handy Links:
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