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Third Circuit Extends Protection to Non-Vested Retiree Benefits (PDF)
2 pages. Excerpt: "On July 13, 2010, the United States Court of Appeals for the Third Circuit held that section 1114 of title 11 of the United States Code applies to all retiree benefits, even those that the plan sponsor could have terminated outside of bankrup.tcy. In In re Visteon Corp., et al, the Third Circuit broke with the conclusion reached by most courts that have addressed the issue."
(Groom Law Group)
New 'Preventive Services' Coverage Mandate Requirements Clarified
Excerpt: "[N]on-grandfathered health plans must provide coverage for, and may not impose any cost-sharing requirements with respect to, certain preventive care services effective with the first plan year beginning on or after September 23, 2010."
(Deloitte via BenefitsLink.com)
HITECH Requirements: HHS Proposes Amendments to HIPAA Regulations
Excerpt: "Although HITECH generally became effective on February 18, 2010, business associates and covered entities will have 180 days after the effective date of the final regulations to comply with their requirements. The preamble indicates this 180-day compliance rule is expected to apply to future modifications of the HIPAA rules as well."
(Deloitte via BenefitsLink.com)
This one-hour e-learning course will examine the grandfathered health plan regulations that determine whether health plans have to comply with the full scope of PPACA, or whether certain important provisions can be avoided. You’ll learn the 12 main ways grandfathered status can be lost, special rules for collectively bargained plans and whether the law applies to retiree-only plans, dental, vision and more.
Benefits in General; Executive Compensation
Wall Street Reform Act Provisions Related to Corporate Governance and Executive Compensation
Excerpt: "This Alert addresses the Acts executive compensation and corporate governance provisions. For the most part, the Act is not prescriptive with regard to these requirements, leaving much of the heavy lifting to subsequent rulemaking by the Securities and Exchange Commission and the national securities exchanges and associations."
Financial Overhaul Bill with Pay, Governance Reforms to Become Law
Excerpt: "Companies will have to submit executive pay and golden parachutes to say-on-pay votes, provide new disclosures, meet independence standards for compensation committees and their advisers, adopt clawback policies, and face likely proxy access rules."
The Impact of Financial Reform on Executive Compensation
Excerpt: "Under the Act, public companies must provide shareholders with a 'say-on-pay' vote to approve the compensation of their 'named executive officers' as disclosed in the Summary Compensation Table contained in companies' proxy statements at least once every three years."
(Proskauer Rose LLP)
Internal Pay Equity Disclosure in Financial Reform
Excerpt: "For purposes of this disclosure, the Company must calculate the 'annual total compensation of all employees' using the rules for Total Annual Compensation figure in the Summary Annual Compensation Table! Reasonable people can differ as to whether internal pay equity is a relevant disclosure to investors, but companies can live with it. What no one can live with is the requirement that the total compensation of every employee in the company be calculated using the rules for calculating CEO compensation for the Summary Compensation Table."
(Michael Melbinger via Winston & Strawn LLP)
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