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Health & Welfare Plans Newsletter

December 9, 2010

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[Guidance Overview]
Blue Cross Blue Shield of Michigan Wins Sixth Circuit Appeal in ERISA Fiduciary Breach Case
Excerpt: "The case involved the question of whether Blue Cross acts as a fiduciary and is subject to ERISA's stringent fiduciary conduct rules when it negotiates hospital reimbursement rates that apply to its self-insured book of business."
(Jones Day)

Workplace Clinics: A Sign of Growing Employer Interest in Wellness
Excerpt: "Employers view workplace clinics as a tool to contain medical costs, boost productivity and enhance companies' reputations as employers of choice. The potential for clinics to transform primary care delivery through the trusted clinician model holds promise . . . ."
(Center for Studying Health System Change)

Employer Provision of Medical Cost and Quality Information to Enable Informed Decisions
Excerpt: "[A] shift is occurring and transparency in health costs and quality are becoming available, primarily due to the increasing popularity of consumer-directed health plans and high-deductible health plans. These plans put more responsibility for healthcare management in the hands of the insured employees.'
(Human Resource Executive Online)

Considerations for Preventive Care Coverage Under Health Care Reform
Excerpt: "The list of services is extensive, health plan and administrators' claims payment systems must be reconfigured and provider office policies must be revised."
(Employee Benefit News; one-time free registration required)

Five Top Dog-Friendly Employers
Excerpt: "Only 17 percent of US employers allow pets, even though researchers find that dogs make employees happier, more productive, and encourage teamwork. Plus, having your Pekinese or chocolate Lab begging for a walk is a perfect way to break up a routine workday. Here are five top dog-friendly companies . . . ."
(The Christian Science Monitor)

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Benefits in General; Executive Compensation

[Official Guidance]
IRS 2010-2011 Priority Guidance Plan (PDF)
The employee benefits section runs from page 4 to page 9 of 34 pages.
(U.S. Internal Revenue Service via The SPARK Institute)

[Guidance Overview]
2010 Reporting Obligations of Companies with ISO or ESPP Arrangements
Excerpt: "Companies may potentially be subject to information return penalties of $50.00 per return, either for reporting erroneous amounts or failure to meet the March 31, 2011, IRS filing deadline (February 28 for paper forms)."
(McDermott Will & Emery)

[Guidance Overview]
Not Too Late to Correct Deferred Compensation, Section 409A, Plan Document Failures, but Deadline Looms
Excerpt: "New IRS Notice 2010-80 provides an additional method to make the payment of deferred compensation contingent upon an employee's actions, such as signing a release, compliant with Section 409A."
(Jackson Lewis LLP)

[Guidance Overview]
IRS Increases Standard Mileage Rates and Simplifies Publication Process
Excerpt: "IRS Notice 2010-88 contains the new rates, marking a simplification in the manner in which the IRS issues new rates and compliance information. Before, the IRS issued a Revenue Procedure (Rev. Proc.) each year, with updated rates embedded within around 25 pages of technical guidance on compliance, much of which had not changed from year to year."
(Thompson Publishing Group Inc.)

Shareholder Say on 'Golden Parachute Compensation'
Excerpt: "Also remember that the new definition of 'golden parachute compensation' means any type of compensation that relates to a change in control transaction, in any amount. For this purpose, at least, 'golden parachute compensation' no longer refers to payments in excess of three times a covered executive's base annual compensation."
(Michael S. Melbinger via Winston & Strawn LLP)

Webcasts and Conferences

The 401k Investment Lineup Summit
in California on April 5, 2011
presented by Pensions & Investments

The 401k Investment Lineup Summit
in Texas on April 7, 2011
presented by Pensions & Investments

The 401k Investment Lineup Summit
in Illinois on April 12, 2011
presented by Pensions & Investments

The 401k Investment Lineup Summit
in New York on April 14, 2011
presented by Pensions & Investments

Press Releases

Newly Posted Employee Benefits Jobs

Marketing Director
for privately held insurance brokerage firm.
in NY

Senior Counsel, Benefits Law
for McKesson
in CA

Manager, Employee Benefits
for Laclede Gas Company
in MO

401k Sales Hunter Needed !!!
for Automatic Data Processing (ADP - Retirement Services)
in AZ, CA, FL, IL, LA, MI, MN, NV, OH, TN, TX

Fixed Income Product Director
for Prudential
in NJ

Manager, Project Management
for Prudential
in CT

Director, Process Management
for Prudential
in CT

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