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Health & Welfare Plans Newsletter
December 16, 2009 
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[Guidance Overview]
IRS Notice 2009-95 Delays Effective Date on Qualified Transportation Fringes
Excerpt: "The Internal Revenue Service has delayed the effective date of ruling which provides guidance on the use of smartcards, debit or credit cards, or other electronic media to provide qualified transportation fringes." (PLANSPONSOR.com)
Towers Perrin U.S. Legislative Tracking Charts: Health and Welfare, Updated December 11, 2009 (PDF)
23 pages. Except: '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)
Senate Majority Leader Harry Reid Says Medicare Part D 'Doughnut Hole' Will Be Closed
Excerpt: "The House health reform bill closes the hole, but 'the Senate, worried about the cost of its health care bill, only partially filled the gap in its bill.' Reid said the hole would be closed in conference committee . . . ." (Kaiser Family Foundation)
Prescription Drug 2009 Enacted State Laws
Excerpt: "This year again was a busy one for prescription drug laws, with 84 new measures enacted among 32 states." (National Conference of State Legislatures)
At a Crossroads: Is Health Coverage Ahead for America? (PDF)
12 pages. Excerpt: "As debate continues on the Patient Protection and Affordable Care Act this week, the fate of health reform lies in the hands of the Senate. Passage of a bill is the crucial next step. If the Senate fails to do this, the current effort to reform the health care system will come to a halt. The actions that the Senate takes in the coming weeks will have a profound effect on the future of health coverage for millions of American families." (Families USA)
Employer Group Calls for Revamp of Health Care Reform Plan
Excerpt: "'We are unable to support the Senate bill in its current form and are increasingly disturbed that significant progress has yet to be made to address the problems it poses for employer-sponsored care,' American Benefits Council President James Klein wrote in a letter to Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky." (Business Insurance)
Making Retiree Healthcare Coverage More Economical (PDF)
Pages 7-8 of 8 pages. (Milliman)
Is Your Wellness Program Cost Effective? (PDF)
Pages 1-3 of 8 pages. (Milliman)
Milwaukee Schools Face Growing Retiree Health Care Costs
Excerpt: "The Milwaukee School Board has spent 20 years ignoring a 'fiscal time bomb' in the form of generous and unfunded health insurance benefits for retired MPS teachers and staff that will cost the district $5 billion by 2016, according to a new report by the Wisconsin Policy Research Institute." (Journal Sentinel Inc.)
[Opinion]
Financial Executives International Writes Congress on Tax Treatment of Medicare Part D Subsidy
Excerpt: "On Dec. 8, 2009 Financial Executives International wrote to Senate leadership on the proposed change to the tax treatment of the Medicare Part D subsidy. The letter, signed by FEI President and Chief Executive Officer Marie N. Hollein, was sent to Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.)" (Financial Executives International)
[Opinion]
Is It the End for Discretionary Clauses in Disability Insurance Policies?
Excerpt: "I have been wondering about the question of whether state insurance commissioners can effectively gut the industry practice of including discretionary clauses in disability policies by refusing to approve forms for use that include them, or whether ERISA preemption precludes that action. [T]he Ninth Circuit concluded that they could do exactly that, without running afoul of preemption . . . ." (Stephen Rosenberg of The McCormack Firm, LLC)
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THE DEFINED CONTRIBUTION PLANS SUMMIT
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]Employee Benefit Plan Sponsors & Fiduciaries Urged to Review Bonding, Credentials of Staff & Service Providers Under ERISA
Excerpt: "ERISA generally prohibits individuals convicted of certain crimes from serving, and prohibits plan sponsors, fiduciaries or others from knowingly hiring, retaining, employing or otherwise allowing these convicted individuals during or for the 13-year period after the later of the conviction or the end of imprisonment, to serve as . . . ." (Solutions Law Press HR & Benefits Update)
[Guidance Overview]
Year-End Update on Executive Compensation (PDF)
4 pages. Excerpt: "In anticipation of the 2010 proxy season, companies should review all of their executive pay practices to determine whether any could be deemed problematic, and whether such arrangements should be eliminated or modified to address potential criticism." (Portfolio Media, publisher of Law360 via McGuireWoods LLP)
[Guidance Overview]
Broadcom Options Backdating Defendants Cleared by Federal Judge
Excerpt: "A federal judge has cleared two former executives of an Irvine, California-based telecommunications firm of charges related to backdating stock options. The Wall Street Journal reported that U.S. District Judge Cormac Carney threw out criminal fraud charges against Henry Nicholas III, the co-founder of Broadcom, and William Ruehle, the company's former chief financial officer." (PLANSPONSOR.com)
Washington, D.C. Council Passes Same-S.ex Marriage Bill
Excerpt: "The bill, which could be signed by the mayor as early as tonight, must go to Congress for a review period of 30 legislative days before it becomes law." (The Washington Times)
From COBRA to GINA, 2009 Held Many Challenges for Employers
Excerpt: "For many benefit managers, the economic downturn resulted in a domino effect of events this year. Perhaps the single biggest benefits event came early, when Congress enacted the American Recovery and Reinvestment Act of 2009, which provided a 65 percent subsidy to laid-off workers who purchased COBRA coverage from their employers. Then in March, ongoing financial market woes threatened the solvency of defined-benefit plans while deterring many employees from continuing to invest in their 401(k) plans." (Workforce Management; free registration required)
Towers Perrin U.S. Legislative Tracking Charts: Human Resources, Updated December 11, 2009 (PDF)
11 pages. 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)
Top Ten Things to Do in 2010 to Minimize the Risk of Employment-Related Litigation
Excerpt: "And, finally, remember that employees who feel they are treated fairly and with respect are less likely to bring claims against their employers." (Pepper Hamilton LLP)
ISCEBS's 2010 Symposium Call for Presentations (PDF)
1 page. Excerpt: "The International Society is soliciting topic and speaker suggestions for the 2010 ISCEBS Symposium, October 3-6 in Charlotte. Society members and other industry professionals are invited to submit a proposal. The Society is particularly interested in benefit and compensation topics that adhere to the following guidelines. Our experienced audience is interested in key industry topics, leading-edge issues and techniques, strategic viewpoints and emerging trends." (International Society of Certified Employee Benefit Specialists)
2009 National Financial Capability Study
Excerpt: "The National Financial Capability Study established a baseline measure of the ability of Americans to manage their money, benchmarking four key indicators of financial capability and evaluating how these indicators vary with underlying demographic, behavioral, attitudinal and financial literacy characteristics." (FINRA Investor Education Foundation)
Employee Ownership Update for December 15, 2009
NCEO Executive Director Corey Rosen discusses the following: John Logue, the founder and director of the Ohio Employee Ownership Center, has passed away. In other news, the NCEO has released a survey on corporate governance in ESOP companies that looks at boards, trustee selection and practices, voting rights, and other issues. (National Center for Employee Ownership)
Webcasts and Conferences
"EFAST2: A New Decade of Plan Reporting" Web SeminarNationwide on January 19, 2010
presented by SunGard Relius
"Schedule C: C is for Confusion" Web Seminar
Nationwide on January 21, 2010
presented by SunGard Relius
Employee Compensation: What to Expect in 2010 from Regulatory and Design Perspectives
Nationwide on January 13, 2010
presented by Buck Consultants, an ACS Company
Form 5500 for Health and Welfare Plans: Are You Ready for Mandatory Electronic Filing?
Nationwide on January 28, 2010
presented by EBIA / Thomson Reuters
(Click to post your webcast or conference)
Press Releases
U.S. Labor Department Sues Manchester, Conn., Company and President to Recover Misused Assets of Employee 401(k) PlanU.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Department of Labor Sues Defunct Arlington, Virginia, Company to Protect Participants of Abandoned Retirement Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Labor Department Obtains Court Judgment Ordering Fiduciary of 401(k) of Defunct Westborough, Mass., Company to Properly Administer the Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Federal Court Grants U.S. Labor Department Default Judgment Requiring Atlanta Company and President to Repay Nearly $100,000 to 401(k) Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
(Click to post your press release)
Newly Posted Employee Benefits Jobs
Institutional Trust Business Development Officerfor U.S. Bank
in CA
Account Executive -- DC Plans
for Retirement Management Services, LLC
in KY
Retirement Plans Analyst
for Chick-fil-A, Inc.
in GA
Director Pension Operations (Employee Benefits TPA)
for Zenith Administrators
in IL
Communications Consultant
for T Rowe Price
in MD
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