Health & Welfare Plans Newsletter |
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| November 5, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
International Foundation of Employee Benefit Plans (Advert.)
DOL One-Day Compliance Programs: Electronic Filing, 2009 Forms 5500 and other DOL Updates Attend this one-day workshop where DOL representatives will provide a comprehensive walk-through of:
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[Guidance Overview]
Court Finds a Breach of Fiduciary Duty Despite Clear Statement in SPD that Employer Could Amend Retiree Medical Plan
Excerpt: "[The Third Circuit] held that Unisys breached its fiduciary duty by not informing retirees that Unisys retained the right to change the terms of their retiree medical benefits. In reaching this conclusion, the court rejected Unisys' key arguments that (1) there was no need to inform the individuals of Unisys' right to amend because no amendments were being contemplated at the time, (2) the Summary Plan Description (SPD) Unisys distributed expressly stated that Unisys retained the right to amend the plan, and (3) the injunction compelling Unisys to reinstate the plan without the right to change benefits impermissibly restricted Unisys in its capacity as a settlor." (Buchanan Ingersoll & Rooney)
[Guidance Overview]
Employers Offering Health Benefits Can No Longer Ignore HIPAA
Excerpt: "If you are an employer offering health insurance to your employees (a Health Plan Sponsor), you know that your group health plan (including any medical, dental, vision and health FSA benefits) is considered a 'covered entity' under the HIPAA privacy and security rules. For many of you who are Health Plan Sponsors, HIPAA privacy and security compliance was a one-time event involving a plan amendment, a few changes to vendor agreements, a notice to plan participants and some training. Unfortunately, Health Plan Sponsors can no longer ignore HIPAA." (DrinkerBiddle)
[Guidance Overview]
2009 Year-End Health and Welfare Issues
Excerpt: "2009 is quickly coming to a close and health and welfare plan sponsors should address several recent legal developments and ongoing compliance requirements before year-end. In particular, calendar year plans should be amended (and SPDs updated) to reflect the new requirements that will be effective January 1, 2010, including Michelle's Law, expanded mental health parity requirements and GINA. Plan Sponsors should also ensure that plan changes needed for CHIPRA and the COBRA subsidy are implemented and documented." (DrinkerBiddle)
[Guidance Overview]
Defensive ERISA Preemption Inadequate To Sustain Removal Of Subrogation Dispute
Excerpt: "In this opinion, the district court holds that the group health insurer improperly removed the reimbursement dispute to federal court. In its opinion the court provides perspective on complete versus conflict preemption in the context of ERISA plan reimbursement claims." (Health Plan Law blog by Attorney Roy Harmon III)
[Guidance Overview]
Required Health Plan Annual Notices: 2009 Edition
Excerpt: "As benefit and open enrollment planning begins for many organizations each fall, it should be remembered that there are a number of annual health plan notices that must be sent to plan participants each year. Below is a list of notices to keep in mind, and ensure that they are sent as necessary:" (Kushner & Company, Inc.)
[Guidance Overview]
COBRA Subsidy for Jobless Expires Soon
Excerpt: "If you are laid off in November or December, you still qualify for the subsidy for up to nine months. But come January, unless Congress extends the program, you are out of luck. So if you receive the bad news of a pink slip anytime soon, aim for your end date to be in the 2009 calendar year, and not 2010." (CNNMoney.com)
Small Business Employees Are 50% More Likely To Lose Health Care Coverage
Excerpt: "Employees of small businesses are 50% more likely to lose coverage as workers at large businesses, according to a recent report released jointly by the Department of Health and Human Services (HHS) and the Small Business Administration (SBA). In addition, the report, Insurance at Risk: Small Business Employees Risk Losing Coverage, found that half of workers in small firms that do not offer health benefits remain uninsured." (Wolters Kluwer Law & Business)
Towers Perrin U.S. Legislative Tracking Chart: Health and Welfare (PDF)
Excerpt: "Thousands of bills are introduced in Congress but only a select few are summarized on this chart. This selection represents our best judgment on the likelihood of enactment and the relevance of the issue for employers." (Towers Perrin)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]IRS Begins Section 409A Audits
Excerpt: "This news may come as an unwelcome surprise to many who were hoping that the complexities and uncertainties of Section 409A might delay the IRS's enforcement efforts until more guidance was available and practices further developed. Information Document Requests ('IDRs') from the IRS to companies undergoing audits reveal that the IRS requires an audited company to disclose details of pay practices that could be subject to Section 409A and also to consider the possible application of Section 409A to these practices." (Jones Day)
[Guidance Overview]
California Supreme Court Affirms Employer's Right to Offer Voluntary Equity Plan
Excerpt: "In a decision strengthening the right of employers and employees to negotiate the terms of employees' compensation, the California Supreme Court in Schachter v. Citigroup, Inc. . . . . affirmed summary judgment against an employee who claimed that his incentive compensation plan violated the California Labor Code." (Morgan Lewis)
Small Increases in Compensation Costs in September 2009
Excerpt: "Compensation costs and its components -- wages and salaries and benefits -- decelerated for private industry workers for the 12-month period ending September 2009, registering the smallest increases since each series began. The differences were not statistically different from last quarter. Wages and salaries make up about 70 percent of compensation and benefits make up the remaining 30 percent." (Bureau of Labor Statistics, U.S. Department of Labor)
Towers Perrin U.S. Legislative Tracking Chart: Retirement and Executive Compensation (PDF)
Excerpt: "Thousands of bills are introduced in Congress but only a select few are summarized on this chart. This selection represents our best judgment on the likelihood of enactment and the relevance of the issue for employers." (Towers Perrin)
Webcasts and Conferences
"EFAST2: The Future of Form 5500" in Kansas Cityin Kansas on December 9, 2009
presented by SunGard Relius
"EFAST2: The Future of Form 5500" in St. Louis
in Missouri on December 9, 2009
presented by SunGard Relius
"ERISA Workshop" in Kansas City
in Kansas on December 10, 2009
presented by SunGard Relius
"ERISA Workshop" in St. Louis
in Missouri on December 10, 2009
presented by SunGard Relius
"Plan Forms, Notices, and Amendments: Streamlined, Effective, Timely" in Kansas City
in Kansas on December 9, 2009
presented by SunGard Relius
"Plan Forms, Notices, and Amendments: Streamlined, Effective, Timely" in St. Louis
in Missouri on December 9, 2009
presented by SunGard Relius
Cash Balance Pension Plans: It’s Time To Consider Retirement Plan Alternatives
Nationwide on November 12, 2009
presented by Lockstone Advisors/Janniere Consulting
Health and Welfare Roundup 2009: Checklist of New Compliance Requirements
Nationwide on December 3, 2009
presented by EBIA / Thomson Reuters
How To Change The Way Your Employees Think About Their Benefits With One Statement (No-Cost Webinar)
Nationwide on December 9, 2009
presented by Benefit Software Inc.
Improving Employee Morale and Retaining Key Employees (No-Cost Webinar)
Nationwide on November 12, 2009
presented by Benefit Software Inc.
Online Benefit Enrollment Made Easy! No-Cost Webinar Demonstrates How To Simplify Benefits Enrollment
Nationwide on November 12, 2009
presented by Benefit Software Inc.
Retirement Plan Compliance Assistance Seminar
in California on January 28, 2010
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
(Click to post your webcast or conference)
Press Releases
U.S. Department of Labor Sues Owner of Defunct Kearneysville, West Virginia, CorporationU.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Labor Department Obtains Appointment of Independent Fiduciary for Abandoned 401(k) Plan of Defunct Whitman, Massachusetts, Company
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Retirement Plan Participation Showed Small Declines in 2008
Employee Benefit Research Institute (EBRI)
ERIC Strongly Opposes Proposal by Rep. Shadegg to Allow State Litigation of ERISA Plans
ERIC (ERISA Industry Committee)
Efforts to Promote Litigation Push Health Care System in the Wrong Direction
American Benefits Council
Tom Johnson Joins New York Life as Head of Business Development for Retirement Income Security
New York Life Insurance Company
National Investment Managers Acquires 500 Plan Block of Business
National Investment Managers Inc.
McGraw Wentworth Named As Best Small Agent/Broker To Work For In Insurance
McGraw Wentworth
Cafeteria Plans Provide Additional Employee Benefit Options
BASE
Guidant Group Launches GuidEDGE, The First Compensation Tool Developed For The Continent Workforce Market
Guidant Group, Inc.
(Click to post your press release)
Employee Benefits Jobs
401(k) Administratorfor Retirement Planners
in ANY STATE, VA
Client Relations Manager
for Hub International Insurance Services, Inc.
in CA
Associate Account Manager
for Cammack LaRhette Consulting
in MA
Manager of Administrative & Support Services
for City of Austin Employees' Retirement System
in TX
Director, Relationship Management-Stable Value
for Prudential
in NJ
Assistant Vice President, Retirement Plans Administration
for The Standard
in OR
Assistant Vice President, Retirement Plans Administration
for The Standard
in OH
(Click to post your job opening | View all jobs |
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