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Health & Welfare Plans Newsletter

June 9, 2010

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[Guidance Overview]
Draft Application for New Early Retiree Reimbursement Program
Excerpt: "This Alert summarizes the key elements of the Program and reviews the steps that plan sponsors must take in order to apply for Program reimbursements."
(Hinshaw & Culbertson LLP)

HHS Offers FAQs on Early Retiree Reinsurance Program
Excerpt: "The questions and answers are available on a website provided by the Office of Consumer Information and Insurance Oversight, which is running the Early Retiree Reinsurance Program."
(Business Insurance)

New Health Insurance Products Target Rate Hikes, Incentives to Improve Employee Health
Excerpt: "Making premiums more affordable for employers and arming them with tools to improve the health of their employees are two of the most common features being included in new insurance products, according to several health plans . . . ."

Potential Loophole Closed in Drugmaker Agreement for Part D Doughnut Hole
Excerpt: "Beginning in 2011, beneficiaries will receive a 50% discount on brand-name drugs in the coverage gap from manufacturers."

Most Large Employers with Early Retiree Benefits Plan to Seek New Early Retiree Reinsurance Payments
Excerpt: "Seventy-six percent of the 245 large employers Hewitt surveyed that offer medical benefits to more than 1.3 million retirees plan to pursue reimbursement under the early retiree program."
(Wolters Kluwer)

Register now for the 2010 SPARK National Conference, June 13-15 at the Mandarin Oriental Hotel in Washington, DC. Join the top marketing, sales, administration and record keeping professionals at the retirement services industry’s leading educational and networking event. Gain insights into the latest business, marketing and sales strategies. Get updates on current market trends, regulatory and legislative issues. Attend sessions designed for TPAs, Financial Advisors and RIAs. Network with peers and earn Continuing Education Credits.

Executive Compensation; Benefits in General

House-Passed Bill Includes Fee Disclosure for Defined Contribution Plans, but No Extension of COBRA Premium Subsidy
Excerpt: "On May 28 the House passed H.R. 4213 by a narrow margin after various items were stripped from the bill, including an extension of the COBRA premium subsidy. Now headed to the Senate for approval, the bill includes pension funding relief for single-employer plans and new 'fee disclosure requirements' for defined contribution plans, which are highlighted [in the target document]."
(Deloitte via

New ESOP Fundamentals Course
The NCEO has created a completely new ESOP Fundamentals course to replace its old one. The course is self-paced and has both online and offline components. It is designed for ESOP committees and other ESOP participants as well as for staff at service providers who need a basic primer on the subject. A free online demo is provided.
(National Center for Employee Ownership)

Milliman's Monthly Benefit News and Developments, June 2010 (PDF)
2 pages. The newsletter provides a summary of the previous month's legislative, regulatory, and judicial information on employee benefits and upcoming key dates.

Compensation Clawback Provisions As a Best Practice in Corporate Governance for Executive Compensation
Excerpt: "A company needs to be able to offer a level of certainty in compensation in order to recruit and retain executives. That is why companies usually strive for 'market' provisions. Interestingly, although institutional shareholders react positively to companies adoption of a clawback policy, they do not seem to make a distinction among the more severe and comprehensive policies and the less specific ones (at least so far). Institutional shareholders and the media have been giving companies 'good governance credit' for adopting almost any form of clawback."
(Michael Melbinger via Winston & Strawn LLP)

Webcasts and Conferences

401(k) Rekon Advisor Symposium
in North Carolina on June 29, 2010
presented by 401(k) Rekon

401(k) Rekon Advisor Symposium
in Illinois on July 22, 2010
presented by 401(k) Rekon

401(k) Rekon Advisor Symposium
in Ohio on August 10, 2010
presented by 401(k) Rekon

401(k) Rekon Advisor Symposium
in California on August 24, 2010
presented by 401(k) Rekon

401(k) Rekon Advisor Symposium
in New Jersey on August 26, 2010
presented by 401(k) Rekon

The Nuts and Bolts of Cash Balance - 401(k) Combined Plan Testing
in New York on June 30, 2010
presented by ASPA Benefits Council of New York

Press Releases

PBGC to Offer Relief to Certain Premium Filers
Pension Benefit Guaranty Corporation (PBGC)

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for Swerdlin & Company
in GA

Defined Benefit Administration Programmer for ProAdmin
for Winklevoss Technologies
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