Health & Welfare Plans Newsletter |
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| May 20, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
International Foundation of Employee Benefit Plans (Advert.)
What Eileen Maraldo values about her International Foundation membership: "The research capabilities of the Foundation are huge. My executives asked me to research a benefit for which there was a lack of readily available information. So I called the Foundation and made a request to have it researched. Within a few days I had all of the information I could possibly have wanted. I was able to make a presentation to senior management with all the facts. I don’t think I could have gotten it any other way." |
[Guidance Overview]
Maryland General Assembly Amends and Clarifies Key Terms in the Maryland 'Flexible' Leave Act
Excerpt: "Based on concerns brought forth by the business community, the Maryland General Assembly overwhelmingly voted to revise and clarify key terms in the Maryland Flexible Leave Act (MFLA), which was originally signed into law on May 22, 2008. As an emergency measure, the amended Act became effective on May 19, 2009, the date on which the Governor signed it. The MFLA generally entitles employees to use any accrued personal paid leave for the illness of an immediate family member. The purpose of the amendments to the MFLA is to provide specific definitions of key terms that had previously been undefined. The new law contains definitions of significant terms referenced in the MFLA, such as 'employee,' 'employer,' 'child,' 'parent,' 'leave with pay' in addition to clarifying under what circumstances an employee is entitled to paid leave." (Littler Mendelson P.C.)
[Guidance Overview]
Employers May Not Require Employees to Take a Health Risk Assessment to Participate in Group Health Plan
Excerpt: "In an informal discussion letter, the Equal Employment Opportunity Commission (EEOC) recently counseled that an employer would violate the Americans with Disabilities Act (ADA) if it required its employees to participate in a health risk assessment in order to obtain coverage under the employer's group health plan. Under the facts presented, a county employer required employees to participate in an assessment that included a short health-related questionnaire, a blood-pressure test, and providing blood for use in a blood panel screen. The results of the assessment were provided only to the employee, although aggregate employee information was provided to the employer. Those employees who refused to take the assessment, and members of their family, were not permitted to enroll in the employer's self-funded group health plan." (Deloitte via BenefitsLink.com)
[Guidance Overview]
'2-Day Rule' for FMLA Notice No Longer Applies
Excerpt: "Unless it is an emergency, an employee who becomes aware of the need for FMLA leave less than 30 days in advance is generally expected to provide notice of the need for leave the same day (where the need is discovered during work hours) or the next business day (where the need is discovered after work hours), according to the Department of Labor. Therefore, it generally should be practicable for the employee to give notice within the time limits prescribed by the employer's call-in or notice policy." (Deloitte via BenefitsLink.com)
[Guidance Overview]
Employers Need to Consider the Americans with Disability Act in Preparing for H1N1 Flu
Excerpt: "The Equal Employment Opportunity Commission (EEOC) issued a short technical assistance document aimed at helping employers comply with the Americans with Disabilities Act as they prepare for the H1N1 flu virus. Although crafted specifically in the context of the H1N1 pandemic, the guidance would be useful under other public health scenarios in which employers need to plan for absenteeism or take steps toward infection control in the workplace." (Deloitte via BenefitsLink.com)
Senate Panel to Review Controversial Changes to Employer-Provided Health Insurance Tax Deductions
Excerpt: "The Senate Finance Committee will discuss controversial options that include curbing the tax-favored status of employer-provided health care coverage, wiping out health care flexible spending accounts and placing new restrictions on health spending accounts when it meets Wednesday, May 20. The policy options include several potential ways to modify the tax treatment of employer-provided coverage to 'eliminate inconsistencies and discourage wasteful health care spending,' according to a committee summary of options being considered to raise revenue to expand coverage." (Workforce Management; free registration required)
State of Washington Delays Paid Family Leave Mandate
Excerpt: "Washington Gov. Chris Gregoire has signed legislation that delays implementation of a 2007 law giving employees up to five weeks of paid leave after the birth or adoption of a child. The measure, S.B. 6158, that Gov. Gregoire signed Monday delays the effective date of the paid leave mandate to October 2012 from October 2009. The delay will give lawmakers more time to identify a funding source for the program in which employees would be eligible for up to $250 a week of paid leave for up to five weeks a year after the birth or adoption of a child." (Business Insurance)
EmployeeBenefitsJobs.com (Advert.)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]A Primer for Employers on 409A Issues in Compensation Arrangements
Excerpt: "The consequences for non-compliance with Section 409A (either in the terms of the written arrangement or in the operation of the arrangement) are severe, although the consequences primarily affect the employee, not the employer. In the event of non-compliance with Section 409A, the employee will be subject to a 20% excise tax. Additionally, the employee will have immediate taxation of the deferred amount in the year the right to the payment vests (even if not yet received by the employee). Interest also may apply." (Troutman Sanders LLP)
Tax-Free Insurance Benefits Reportedly Used to Pay Executive Bonuses, Deferred Pay and Pensions
Excerpt: "Banks are using tax-free benefits from life insurance policies they hold for their employees to pay executive bonuses, deferred pay and pensions, according to a published report Wednesday. Major financial institutions -- including Bank of America (BAC, Fortune 500), J.P. Morgan Chase (JPM, Fortune 500), Wachovia and its parent, Wells Fargo (WFC, Fortune 500) -- are taking increasing amounts of life insurance policies against their employees, and naming the company as the beneficiary, the Wall Street Journal reported. The company receives a tax-free benefit when the employee dies, whether that employee is still working at the company or not, the report said." (CNNMoney.com)
Do Stock Options Have a Future? (PDF)
3 pages. (WorldatWork via Frederic W. Cook, Inc.)
Automotive Industry Salaried Retirees Join Forces to Save Pensions and Benefits
Excerpt: "More than 200,000 salaried retirees from the U.S. automotive industry have formed a coalition to fight for their benefits. The presidents of each of the four national retiree associations of Chrysler LLC, Delphi Corp., General Motors Corp. and Ford Motor Co. announced Thursday the formation of the National Automotive Coalition (TNAC). . . . [T]he salaried retirees of the four organizations are being urged to meet with their congressional representatives on a face-to-face basis to determine support for their concerns. 'We have a six-point agenda to discuss with each representative,' . . . . 'We want to know if they are for or against us.'" (Kokomo Tribune)
Webcasts and Conferences
401(k) Plans for Rookies: Master the Basics So You Can Handle the DetailsNationwide on May 13, 2009
presented by EBIA / Thomson Reuters
Complying with Mental Health Parity Requirements: What This Means for Plan Sponsors
Nationwide on June 2, 2009
presented by Buck Consultants, an ACS Company
Retirement Fee Regulatory Webinar
Nationwide on June 2, 2009
presented by Redi2 Technologies
(Click to post your webcast or conference)
Press Releases
PBGC Deficit Climbs to $33.5 Billion at Mid-Year, Snowbarger to Tell Senate PanelPension Benefit Guaranty Corporation (PBGC)
U.S. Labor Department Secures 401(k) Plan Assets for J&L Electronic Service Inc. Employees in Chicago Suburb
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Labor Department Sues to Appoint Independent Fiduciary for 401(k) Plan Abandoned by Former Iowa Employer
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
The SPARK Institute Addresses 401(k) Plan Fees and Expenses In New White Paper
SPARK Institute
EPIC Advisors, Inc. Partners with a Texas Firm to Support Business Expansion in the Southwestern United States
EPIC Advisors, Inc.
(Click to post your press release)
Employee Benefits Jobs
Plan Administrator/Trust Accountantfor Thomas F. Barrett, Inc.
in MD
EBS Actuarial Analyst I/II/III
for EBS-RMSCO, Inc.
in NY
Retirement Plan Administrator
for PENSYS, Inc.
in CA
Business Development Officer
for First Merchants Trust Company
in OH
(Click to post your job opening | View all jobs |
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EmployeeBenefitsJobs.com (Sponsor)
(Click on banner to learn more.)
| Where the best employers find the best candidates! |
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