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January 27, 2011 Retirement Plans Newsletter  |  Advertise  |  Unsubscribe

Ways and Means Committee Hearing on Health Care Law's Impact on Jobs, Employers, and the Economy – "The [January 26 hearing was held to] examine the economic and regulatory burdens imposed by the enactment and implementation of the [health care reform acts]." (U.S. House Committee on Ways and Means)


Nat'l Health Benefits Conf & Expo (HBCE) Jan.31-Feb.1, Clearwater Bch, FL (advert.)

Sponsored by Health Benefits Conference & Expo (HBCE)

Our speakers literally wrote the books on health benefits management, on-site clinics and obesity control. Hear speakers from Walmart, Intel, Time Warner and governmental employers. Low cost, high quality! info@HBCE.com Ph: 941-484-1430


[Guidance Overview]
3rd Circuit Addresses a Post-Glenn ERISA World – "[I]n Metropolitan Life v. Glenn, the Supreme Court reaffirmed the Firestone standard for arbitrary and capricious review of denial of benefit claims under ERISA Section 502(a)(1)(B), but also reiterated the need to weigh conflict of interests when plan administrators are both responsible for claim determinations and claim payments." (Workplace Prof Blog)

[Guidance Overview]
Attachment of Proof of Benefit Assignment May Prove Critical to Removal – "The plaintiff filed its complaint in New Jersey Superior Court, naming twenty-one insurance providers and one medical claim processing company. The gravamen of the complaint, 'couched in terms of fraud, negligence, and interference with contract,' consisted of a claim for additional reimbursement." (Roy Harmon III via Health Plan Law)

[Guidance Overview]
Fourth Circuit Finds Plan Administrator 's Decision to Deny Disability Benefits Was Unreasonable, and Upholds Plaintiff's Claim – "The Court found that, considering all of the evidence together, there is no reasonable basis in the record for LINA's decision to reject the plaintiff's benefit claim. The evidence showed that the plaintiff was suffering from chronic diseases that are potentially debilitating." (Stanley D. Baum)

Michigan State Employees Earn Same Sex Partner Health Benefits – "The Michigan Civil Service Commission voted . . . to honor agreements that will extend benefits to same sex partners of most state employees. Unions representing 70% of state employees were impacted by [the] decision." (Kos Media, LLC)

Advice for Self-Insured Health Plans: Don't Buy Stop-Loss on Price Alone – "[The lessons are clear: the self-insured employer must carefully consider] options, the policy provisions and the cost/benefit of different stop-loss structures. A quick list of the key things to consider . . . ." (WGA InsureBlog)

Making Workplace Wellness Work – "Increasingly, [World Economic Forum] participants are focusing on workplace wellbeing. Several major corporations . . . have created the Workplace Wellness Alliance to better understand the link between employee wellness and productivity. Healthy work environments are essential to a business's bottom line." (Thomson Reuters)


The Most Complete, Current, Easy-to-Use HSA Resource Available! (advert.)

Sponsored by Aspen Publishers

Health Savings Account Answer Book answers every HSA question...clarifies every HSA issue...in a format that's quick and easy to use. It tells you virtually everything you have to know to profit from HSAs.


Benefits in General; Executive Compensation

[Guidance Overview]
Additional Comments on SEC's Final Rules on Shareholder Say on Pay – "The Final Rules made no earth shattering changes from the proposed rules, but the following [six] issues bear special mention . . . ." (Michael S. Melbinger via Winston & Strawn LLP)

[Guidance Overview]
Final SEC Rules Regarding Say-on-Pay and Golden Parachutes (PDF) – "Under the SEC's final rules, companies are required, not less than once every three years, to include in their proxy statements for an annual or other meeting at which directors are elected a vote by the shareholders approving the compensation of a company's named executive officers, as such compensation is disclosed in the proxy statement." (Dow Lohnes PLLC)

[Guidance Overview]
IRS Deadline to Notify Employees Who Exercised Certain Stock Options in 2010 – "The necessary information must be provided to the employees by Jan. 31, 2011, with a corresponding report filed with the Internal Revenue Service no later than Feb. 28, 2011 (March 31, 2011, if filed electronically)." (Davis Wright Tremaine LLP)

[Guidance Overview]
Final SEC Rules Implementing Dodd-Frank 'Say on Pay' and 'Say on Golden Parachutes' (PDF) – "The final rules largely followed the Commission's proposed rules issued on October 18, 2010, with a few notable exceptions." (Alston & Bird LLP)

Future Direction and Challenges for Multiemployer Benefit Plans – "Although these plans once represented one of the great triumphs in labor relations in providing pension, welfare, and health benefits to unionized workers, these plans are now under siege because of financial/demographic, legislative, and judicial developments." (Social Science Research Network)

GAO Concludes Existing Regulation Covers Financial Planners – "[The GAO] recommended that the National Association of Insurance Commissioners . . . assess consumers' understanding of the standards of care associated with the sale of insurance products and that the SEC determine how well investors understand financial planners' titles and designations." (American Institute of Certified Public Accountants)

Consumer Finance: Regulatory Coverage Generally Exists for Financial Planners, But Consumer Protection Issues Remain (PDF) – "This report examines (1) how financial planners are regulated and overseen at the federal and state levels, (2) what is known about the effectiveness of this regulation, and (3) the advantages and disadvantages of alternative regulatory approaches." (U.S. Government Accountability Office)

Press Releases


Employee Benefits Jobs

Supervisor, Policy Administration
for The Newport Group in NC

Retirement Plan Administration Manager
for REHMANN in MI, OH

Senior Associate - Retirement
for Employee Benefit Solutions, Inc. in TX


Webcasts and Conferences

"401(k) Testing Techniques" Web Seminar
Nationwide on February 24, 2011 SunGard Relius

401(k) Rekon Advisor Symposium Charlotte, NC
in North Carolina on February 24, 2011 401(k) Rekon

401(k) Rekon Advisor Symposium Schaumburg, IL
in Illinois on February 24, 2011 401(k) Rekon

Workplace Wellness: What Drives Results?
Nationwide on February 15, 2011 Buck Consultants

Workplace Wellness: What Drives Results?
Nationwide on February 17, 2011 Buck Consultants


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