Health & Welfare Plans Newsletter |
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| November 10, 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]
Clear Reservation-of-Rights Saves Company from ERISA Class Action Over Change in Retiree Benefits
Excerpt: "Can an employer modify or terminate the medical benefits of retired employees? The answer depends on the language in the employer's medical benefit plan. A recent federal court ruling highlights the importance of medical benefit plans unambiguously reserving the right to modify or terminate plan benefits. Without this language, an employer makes itself vulnerable to 'he said/she said' disputes in which retirees claim that their former managers promised the retirees that their medical benefits would remain unchanged through retirement." (Haynes and Boone LLP)
H1N1 'Swine' Flu: Employer FAQs (PDF)
4 pages. Excerpt: "With the onslaught of the Swine Flu, employers are struggling to know what the respective rights of employer and employee are with respect to the first true pandemic in recent history. Although swine flu is not new, this particular strain -- H1N1 -- is particularly virulent due to its highly contagious nature and its global reach. This document is not intended to be a medical analysis of this flu or to render opinion as to the health care basis of the pandemic or its treatment. Rather, it seeks to provide a handy guide to the employer as to the nature of employee rights and appropriate employer protocol during this difficult time." (Baker & McKenzie LLP)
Congressional Update on House Vote Passing the Affordable Health Care for America Act
Excerpt: "Prior to passing the massive overhaul legislation, the House passed an amendment introduced by Representative Bart Stupak. The amendment prohibits federal funding of abortion in the newly created insurance program 'exchanges' and the public option program. The amendment was adopted by a vote of 240-194. Many of the newly created provisions of the health care bill will go in to affect in 2013. Individuals are given the option to keep their current health plan as a 'grandfathered' plan, but all individuals who do not already have health insurance through their employer, will be required to acquire some form of health insurance. Employers with payrolls over $500,000 must offer health care insurance to their employees or make an insurance contribution on behalf of the employee. If employers fail to meet the requirement, a penalty will be incurred. Small businesses that offer health insurance to their employees are eligible for a tax credit." (Adams and Reese LLP)
Five Flash Points As Health Care Reform Moves to the Senate
Excerpt: "In the Senate, passage of healthcare reform legislation will be even harder than in the House. Here are five issues that could delay or, perhaps, torpedo healthcare reform." (The Christian Science Monitor)
BenefitsLink Newsletter (Advert.)
We Have Your Target Audience Advertise your company's products and services right here in the BenefitsLink newsletter. Our subscribers care about employee benefit plan compliance, administration, costs and design. Roles include in-house benefits directors and administrators, TPAs, consultants, attorneys, trust officers, auditors and investment managers. Your ad will show both your banner and a paragraph of text -- more exposure than you'll find anywhere else. And, of course, a clickable link to any page on your web site. Contact Mary Hall for details. |
Links to Items on Executive Comp, Benefits in General
Stock Plans Holding Up Despite Downturn, According to SchwabExcerpt: "One might think that depressed equity markets, rising unemployment, and shifting accounting treatments would have weighed on stock option issuance. However, a new study of 200 corporate stock plan decision makers from companies around the country commissioned by Charles Schwab found that most employer respondents are offering the same or even more stock plan benefits to their employees since a year ago. According to an announcement of the survey, one in four respondents (25%) says their company plans to increase stock plan benefits in the next year, while more than two-thirds (68%) plan to maintain benefits at the current level. Additionally, Schwab notes that these benefits are not just for senior-level employees . . . ." (PLANSPONSOR.com; free registration required)
Life on Severance Pay
Excerpt: "Overall, companies have been eliminating or trimming severance packages. For those who do receive severance, the median pay allotted is 12.5 weeks' salary, down from 21.8 weeks a decade ago, according to outplacement firm Challenger, Gray & Christmas. But this downtown has brought heavy layoffs to the financial and auto industries, two places where generous exit packages remain more common. The dramatic changes in such sectors mean that many of the eliminated jobs will never come back. Some workers may suffer a permanent hit to their standard of living. Those affected often have trouble accepting their diminished prospects. Hefty severance packages, while intended as a safety net, can lull the unemployed into a false sense of security. Some people continue spending as before." (The Wall Street Journal)
Distributions to Former Participants in Company Stock (Part 2)
In her latest column on the NCEO's site, ESOP consultant and NCEO board member Nancy Dittmer continues her discussion of distributions to former ESOP participants in company stock. (National Center for Employee Ownership)
Webcasts and Conferences
"Ethics with a Smile" Web SeminarNationwide on December 2, 2009
presented by SunGard Relius
Craig J. Davidson, CEBS, Presents the November Smartcast on Technology in the Workplace--November 17th at 10 a.m. and 2 p.m.(CST)
Nationwide on November 17, 2009
presented by FutureOffice Network
(Click to post your webcast or conference)
Press Releases
The Segal Company's Houston Office MovesThe Segal Company
Craig Davidson of FutureOffice Network Shares Insurance Sales Tips in the November Issue of Employee Benefit Adviser
FutureOffice Network
Fiduciary Benchmarks Announces the Ability to Benchmark 98% of All 401(k) Plans
Fiduciary Benchmarks, Inc.
Pen-Cal Appoints Financial Industry Veteran to Lead East Coast Operations
Pen-Cal
(Click to post your press release)
Employee Benefits Jobs
Technical Resource Analyst (HIPAA)for ArlenGroup
in CA
Account Manager, Client Services
for ExpertPlan, Inc.
in NJ
Compliance Analyst
for The Newport Group
in NC
Benefits Manager
for Wellesley College
in MA
Retirement Plan Administrator
for Bates & Company, P.A.
in FL
Business Development Professional
for RiverNorth Retirement Plan Services
in IL
Retirement Plan Service Specialist
for Retirement Alliance, Inc.
in NH
(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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