[Guidance Overview] 2010 Medicare Premiums, Deductibles and Coinsurance Excerpt: "Plan sponsors that pay the Medicare Part B premium or deductible should carefully review their plan documents and communications to assure that they are accurately stating the amount that the plan intends to pay. For example, plans that simply promise to pay the 'Part B deductible' may want to set that payment at a firm amount or maximum. If the plan is vague regarding the amount of the Part B premium that the plan will pay, costs could inadvertently increase as the Part B premium rises, and could rise substantially if the plan has participants subject to income-based indexing." (The Segal Group, Inc.) [Guidance Overview] Compliance Update for Health and Welfare Plans, November 2009 (PDF) 5 pages. Excerpt: "This Client Alert provides a broad overview of several recent statutory and regulatory changes that have a significant impact on the operation and administration of employer-provided health and welfare plans that require implementation in 2009 or 2010. Employers should examine their benefit programs closely in light of these changes and take immediate action where necessary to ensure compliance." (Paul, Hastings, Janofsky & Walker LLP) [Guidance Overview] Amendments to the FMLA's Military Leave Provisions Excerpt: "The NDAA's amendments to the FMLA do not specify an effective date. Therefore, employers should begin complying with the amendments immediately as a precautionary measure until further guidance is provided. Employers will need to update their practices to account for these changes in the FMLA. Whether changes to employers' FMLA policies are necessary will depend on whether the policy in question is specific enough to precisely define the eligibility requirements for qualifying exigency and covered servicemember leave that are affected by the NDAA's amendments. If so, revising the policy to mirror the NDAA amendments is advisable." (Briggs and Morgan P.A.) Businesses at Risk from Health Reform, or Status Quo, Depending on Source Excerpt: "[S]peaking to potential donors at an AIDS charity function Wednesday, Bill Clinton said that American businesses - such as General Motors - are being crushed by health care costs even without reform, Bloomberg reports. The American system for financing and delivering health services makes U.S. companies uncompetitive with counterparts abroad, he said. 'One of the things that killed them was General Motors had $1,500 a car in health-care costs and Toyota had $110,' he said . . . ." (Kaiser Family Foundation)
Links to Items on Executive Comp, Benefits in General[Guidance Overview]California Supreme Court Upholds Forfeiture of Incentive Compensation (PDF) 4 pages. Excerpt: "In a closely watched case involving the Smith Barney Capital Accumulation Plan, the California Supreme Court has ruled unanimously that state law does not prohibit an employer from forfeiting an employee's incentive compensation when the employee quits or is terminated for cause before the date that the compensation vests. Schachter v. Citigroup, Inc., No. S1611385, 2009 Cal. LEXIS 11056 (Nov. 2, 2009). But in dicta, the court suggested an exception to its ruling: If an employee is terminated without cause, then the employee still may be entitled to a pro rata share of the compensation at issue. The court did not elaborate on what would constitute 'cause' in this context, whether the reason for the termination would make a difference, or whether an express provision in the incentive-compensation plan would eliminate the potential exposure. It therefore is unclear how far this exception may go." (Paul, Hastings, Janofsky & Walker LLP) [Guidance Overview] Contractual Basis of Incentive Compensation Re-Emphasized: Restricted Stock in Lieu of Cash Wages Can Be Forfeited by Resignation in California Excerpt: "In Schachter v. Citigroup, Inc., the California Supreme Court rejected claims that an incentive plan that conditioned the earning of restricted stock based on continued service was unlawful where the employee voluntarily elected to participate in the plan, and the employee quit before the date on which the incentive was earned. The plan was lawful even though the incentive plan was funded from wages that the employee would have otherwise received in cash. With this decision, the California Supreme Court joined the courts of six other states that had concluded the Citigroup Capital Accumulation Plan complied with each state's respective wage payment laws." (Littler Mendelson P.C.) Performance-Based SERPs: An Alternative Approach to Executive Benefits Excerpt: "Simply stated, a performance-based SERP places one or more performance conditions on an executive's accrual of benefits. SERPs are extremely flexible; there are many ways to design such a plan and various performance conditions that can be appropriate. Described [in the target document] are some plan design features that an employer may wish to consider for a performance-based SERP." (Hay Group) Work Ability and the Social Insurance Safety Net in the Years Prior to Retirement Excerpt: "A patchwork of public programs -- primarily Social Security Disability Insurance (DI), workers' compensation, Supplemental Security Income (SSI), and veterans' benefits -- provides income supports to people unable to work. Yet, questions persist about the effectiveness of these programs. This report examines the economic consequences of disability for a sample of Americans observed from age 51 to 64. The results underscore the precarious financial state for most people approaching traditional retirement age with disabilities." (Center for Retirement Research at Boston College) Webcasts and ConferencesAnnual Legal Updatein Illinois on December 2, 2009 presented by WEB - Chicago Downtown New Roth Conversion and Portability Nationwide on December 9, 2009 presented by McKay Hochman Co. (Click to post your webcast or conference) Press ReleasesLincoln Financial Joins Benefit Advisors Network's Alliance PartnershipBenefit Advisors Network Great-West Retirement Services Appoints Two To Regional Sales Director Positions In New Jersey Great-West Retirement Services Safeway and Health Action Council Ohio Honored by NBCH for Value-Based Purchasing Leadership National Business Coalition on Health Group Health Cooperative and UnitedHealthcare Recognized by NBCH for Programs that Improve Health and Health Care National Business Coalition on Health The Vitality Group Adds Fitbug Fitness Measurement to Vitality™ Program The Vitality Group (Click to post your press release) Employee Benefits JobsDirector Of Operationsfor National Leader in the Employee Benefits Management Industry in AZ Group Retirement Wholesaler for Ohio National Financial Services in CA, TX (Click to post your job opening | View all jobs | RSS feed of all jobs ) EmployeeBenefitsJobs.com (Sponsor) (Click on banner to learn more.)
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