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Health & Welfare Plans Newsletter

May 19, 2010

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Nowhere is the impact of this law more complicated (and less clear) than it is with respect to multiemployer plans – everything from the application of grandfathering and effective dates of various mandates to the elimination of waiting periods. This webcast will focus specifically on the effect of health care reform on multiemployer plans, providing up-to-the-minute updates and clarifications, along with a practical discussion of what the road ahead looks like.

[Official Guidance]
Text of Final IRS Regs on Qualified Non-Personal Use Vehicles; Clearly Marked Safety Officer Vehicles Now Qualify (PDF)
Excerpt: "This document contains final regulations relating to qualified non-personal use vehicles as defined in section 274(i). Qualified non-personal use vehicles are excepted from the substantiation requirements of section 274(d)(4) that apply to listed property . . . . These final regulations add clearly marked public safety officer vehicles as a new type of qualified nonpersonal use vehicle. . . . These regulations apply to uses of clearly marked public safety officer vehicles occurring after May 19, 2010."
(Internal Revenue Service)

[Guidance Overview]
The Small Employer Tax Credit Under Health Care Reform
Excerpt: "The employer must pay directly (and not through a salary-reduction agreement) at least 50% of the premium for employee coverage and must pay a uniform percentage of the premium cost for all workers. A business can set off the credit against income tax owed (including the AMT), and can carry the credit forward for 20 years or backwards for one year (after 2010). Tax exempt organizations can set off the credit against withholding and Medicare taxes that they owe for their employees."
(Health Affairs)

Treasury Department Report Shows COBRA Subsidy Is Helping Middle Class Families
Excerpt: "The analysis, conducted by the Treasury Department's Office of Economic Policy, provides the first summary of the profile of unemployed individuals who obtained continuing health insurance coverage with the help of the Recovery Act COBRA subsidy."
(U.S. Department of the Treasury)

Resource List for Health Care Reform Legislation and Regulatory Guidance
The target page lists each legislative title and the guidance issued to date.
(Kilpatrick Stockton LLP)

The Short and Long-Term Benefits of the Health Care Legislation (PDF)
14 pages. Excerpt: "In this exclusive interview, Dr. Michael O'Donnell sits down with WELCOA President Dr. David Hunnicutt to discuss the impacts the recently passed health care legislation will have on health promotion. Specifically, Dr. O'Donnell covers the short and long-term benefits of the legislation as well as what health promotion practitioners and business leaders can do to prepare for the upcoming changes."
(Wellness Council of America)

Most Employers Waiting Until Effective Date to Cover Adult Children, According to Survey
Excerpt: "Among 661 employers responding to the survey by New York-based Towers Watson & Co., 16% said they would extend the coverage before the required effective date, 78% said they would wait until the effective date and 6% did not yet know."
(Business Insurance)

U.S. Supreme Court Denied Certiorari in ERISA Preemption Case
Excerpt: "The 9th Circuit held that the commissioner's practice of disapproving any insurance contract containing a discretionary clause is not preempted by ERISA."
(LawMemo)




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Executive Compensation; Benefits in General

[Guidance Overview]
A Quick Review of Plan Amendments Required in 2010 (PDF)
Excerpt: "As we approach the midway point of 2010, plan sponsors should be aware of amendments that may be required to be made by the end of the year under the Pension Protection Act of 2006 (PPA), the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART Act), the Worker, Retiree, and Employer Recovery Act of 2008 (WRERA), and the Patient Protection and Affordable Care Act (PPACA)."
(Sutherland Asbill & Brennan LLP)

Work-Life Benefits Now Integral to Total Rewards Package
Excerpt: "The majority (59%) of respondents to the State of Total Rewards Integration survey include work-life (flexible work schedules, extra vacation and sabbaticals) in addition to compensation (base salary, incentives and guaranteed payments) and benefits (retirement and medical) in their definition of Total Rewards."
(PLANSPONSOR.com)

[Opinion]
A Response to 'It's Time to Deep-Six SERPs'
Excerpt: "I happen to think that a properly designed SERP at an employer with a qualified defined benefit pension plan still serves a valid purpose . . . . However, many corporation have eliminated, or are considering eliminating, their SERP plans. Among the other reasons are the appearance in the Proxy Statement and financial statements, the complexities of Section 409A, the financial cost, and the public/media perception of SERPs."
(Michael Melbinger via Winston & Strawn LLP)


Webcasts and Conferences

Properly Governing a Dynamic LDI Strategy
in Connecticut on May 21, 2010
presented by Investment Governance, Inc.

Cross-Testing and 401(a)(4): The Who, What and Why of Allocation by Individual Classification
Nationwide on July 27, 2010
presented by Qualified Pension Consulting, Inc.

Cross-Testing and 401(a)(4): The Who, What and Why of Allocation by Individual Classification
Nationwide on July 30, 2010
presented by Qualified Pension Consulting, Inc.

ESOP Update Phone Forum - Free
Nationwide on June 24, 2010
presented by Internal Revenue Service (IRS)

Ethics for Retirement Plan Professionals
Nationwide on August 17, 2010
presented by Qualified Pension Consulting, Inc.

Ethics for Retirement Plan Professionals
Nationwide on August 20, 2010
presented by Qualified Pension Consulting, Inc.

Form 2848 vs. Form 8821 Retirement Plans Phone Forum - Free
Nationwide on June 1, 2010
presented by Internal Revenue Service (IRS)

From GUST to EGTRRA: A Redline Comparison of a 401(k) Basic Plan Document
Nationwide on June 29, 2010
presented by Qualified Pension Consulting, Inc.

From GUST to EGTRRA: A Redline Comparison of a 401(k) Basic Plan Document
Nationwide on July 2, 2010
presented by Qualified Pension Consulting, Inc.

Healthcare Reform Legislation – Insurance Market Reforms Audiocast
Nationwide on May 19, 2010
presented by Conference of Consulting Actuaries

Healthcare Reform Legislation – Other Perspectives
Nationwide on June 2, 2010
presented by Conference of Consulting Actuaries

HEART Act Amendments In-Depth and Due by December 31, 2010
Nationwide on August 24, 2010
presented by Qualified Pension Consulting, Inc.

HEART Act Amendments In-Depth and Due by December 31, 2010
Nationwide on August 27, 2010
presented by Qualified Pension Consulting, Inc.

How Much is Enough – Meeting the Meaningful Benefits Requirement of Treas. Reg. 1.401(a)(26)-3
Nationwide on September 14, 2010
presented by Qualified Pension Consulting, Inc.

How Much is Enough – Meeting the Meaningful Benefits Requirement of Treas. Reg. 1.401(a)(26)-3
Nationwide on September 17, 2010
presented by Qualified Pension Consulting, Inc.

Michelle, GINA, CHIPRA and MHPAEA – How These Four Acts Recently Amended Cafeteria Plans
Nationwide on June 1, 2010
presented by Qualified Pension Consulting, Inc.

Michelle, GINA, CHIPRA and MHPAEA – How These Four Acts Recently Amended Cafeteria Plans
Nationwide on June 4, 2010
presented by Qualified Pension Consulting, Inc.

Professionalism for Retirement Plan Professionals
Nationwide on August 17, 2010
presented by Qualified Pension Consulting, Inc.

Professionalism for Retirement Plan Professionals
Nationwide on August 20, 2010
presented by Qualified Pension Consulting, Inc.

Standardized or Non-Standardized – What to Think About When Choosing a Prototype
Nationwide on August 10, 2010
presented by Qualified Pension Consulting, Inc.

Standardized or Non-Standardized – What to Think About When Choosing a Prototype
Nationwide on August 13, 2010
presented by Qualified Pension Consulting, Inc.

The Basics of Vesting and Partial Terminations
Nationwide on September 28, 2010
presented by Qualified Pension Consulting, Inc.

The Basics of Vesting and Partial Terminations
Nationwide on October 1, 2010
presented by Qualified Pension Consulting, Inc.

They’re Back – the Re-Proposed Regs on Participant Investment Direction and Plan Fees
Nationwide on July 13, 2010
presented by Qualified Pension Consulting, Inc.

They’re Back – the Re-Proposed Regs on Participant Investment Direction and Plan Fees
Nationwide on July 16, 2010
presented by Qualified Pension Consulting, Inc.


Press Releases


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