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February 4, 2011 Retirement Plans Newsletter  |  Advertise  |  Unsubscribe  |  Past Issues

[Official Guidance]
Text of EBSA Advisory Opinion 2011-01A on a Multiple Employer Welfare Arrangement
"Whether the Custom Rail Employer Welfare Trust Fund, which is a 'multiple employer welfare arrangement' within the meaning of ERISA section 3(40), is 'fully insured' within the meaning of ERISA section 514(b)(6)." (U.S. Employee Benefits Security Administration)


DATAIR Cafeteria Plan Software (advert.)

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[Guidance Overview]
FMLA and ADA Not Involved in Dismissal for Violation of Work Rules and EAP Policies
"Failure to adhere to the policy of the Home Depot Employee Assistance Program . . . and violating work rules by working under the influence of alcohol were reasons for an employee's dismissal . . . ." (Wolters Kluwer)

[Guidance Overview]
Employer Not Responsible for Providing COBRA Election Notice Where TPA Designated Plan Administrator
"Many plan sponsors contract with TPAs to provide COBRA election notices to qualified beneficiaries. However, TPAs rarely agree to be designated as plan administrator." (Thomson Reuters/EBIA)

Constitutional Challenges to the Patient Protection and Affordable Care Act
"The constitutionality of the Act, especially in view of its sweep over one sixth of the national economy and its staggered effective dates between 2010 and 2018, requires a prompt resolution by the courts of appeals and then by the Supreme Court." (Nixon Peabody LLP)

Challenges in Implementing Health Reform's Insurance Disclosure Requirements
"The Affordable Care Act calls for a new health insurance disclosure form, called the Summary of Benefits and Coverage, which uses a fixed layout and standard terms and definitions to allow consumers to compare health insurance plans and understand terms of coverage." (The Commonwealth Fund)

Cash Value Insurance and Benefit Programs - When Will It Stop?
"While the IRS has clearly stated its positions over the years (starting with Notice 95-34) with respect to the plans, they continue to be marketed as a way to sell CVLI." (Pension & Benefits Blog)

Hybrid LTC Plans Cited Among 2011 Benefit Trends
"One reason traditional LTC sales keep declining is the assets used to fund premiums are lost in the event that the insurance is never needed. That's not the case for a hybrid plan with an LTC rider, which enables policyholders to reallocate cash reserves to upgrade coverage, leverage death benefits when the product is combined with life insurance and access cash." (Employee Benefit News; one-time free registration required)

Constitutional Challenges to Health Reform Move to Courts of Appeal
"In deciding that the individual mandate could not be severed from the rest of PPACA, [the ruling] gave great weight to the fact that a severability clause had been removed from an earlier version of the legislation . . . ." (McGuireWoods LLP)

Flexible Vacation Policies Here to Stay
"[A growing number of companies are] adopting so-called flexible vacation policies that shift control over deciding when to take time off to employees and in many cases eliminating an allotted number of vacation days entirely." (Cable News Network)


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Benefits in General; Executive Compensation

[Official Guidance]
Text of Notice of 155th Meeting of Advisory Council on Employee Welfare and Pension Benefit Plans (PDF)
"[T]he open meeting of the Advisory Council (also known as the ERISA Advisory Council) will be held on February 28, 2011." (U.S. Employee Benefits Security Administration)

[Guidance Overview]
Final Say on Pay Rules from SEC (PDF)
"[T]he early returns from the first spate of 2011 shareholder meetings suggest that shareholders are not merely rubber-stamping their approval, and that they want annual Say on Pay votes regardless of management proxy statement recommendations." (Paul, Hastings, Janofsky & Walker LLP)

[Guidance Overview]
SEC's Final Rules on Shareholder Say on Golden Parachute Pay
"The Rules do not permit companies to exclude de minimis perquisites and other personal benefits from this disclosure." (Michael S. Melbinger via Winston & Strawn LLP)

[Guidance Overview]
Reimbursements to Retirees in Lieu of Phone Service Discount Not an ERISA Pension Plan
"This decision follows other cases that reject ERISA pension plan status for reimbursements provided to retirees in lieu of discounted telephone service benefits." (Thomson Reuters/EBIA)

[Opinion]
OPRB Is the Real Monster, Not Pensions
"With a few exceptions, state and local governments and their pension funds will slowly pull out of the current financial crisis. It may take a decade, but they will disprove the doomsday pronouncements of those whose primary objective is to roll back what they see as lavish benefits for public employees." (Governing)

Press Releases

MassMutual Retirement Introduces Social Network Pages
(MassMutual Retirement Services)

US Department of Labor’s ERISA Advisory Council to Hold Feb. 28 Teleconference
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

ERIC Urges DOL to Consider Unintended Consequences in Expanding Definition of “Fiduciary”
(ERIC (ERISA Industry Committee))

Bipartisan Senate Bill Would Help Workers Prepare For Retirement, ACLI Says
(American Council of Life Insurers)

Great-West Life & Annuity Insurance Company Announces New Community Program To Fund Local Education
(Great-West Life & Annuity Insurance Company)

Aetna Helps Employees Make Super Bowl Snacks Healthier with New Health eCooking Videos
(Aetna)

403(b) Advisor Magazine Launches at NTSAA Annual Conference
(American Society of Pension Professionals & Actuaries (ASPPA))

Fidelity Investments Takes Retirement Income Planning to a New Level on Behalf of Baby Boomers
(Fidelity Investments)

Largest US Pension Plan Sponsors See Funded Status Improve For Fifth Straight Month
(Mercer)

Morgan Stanley to Offer DC Fee and Benchmarking Service
(Morgan Stanley Smith Barney)


Employee Benefits Jobs

Pension Administrator in IL for Alliance Pension Consultants

401(k) Retirement Plan Administrator in NH for Stephen Eldridge & Company, Inc.

Client Service Manager in OH for Charles Schwab

Benefits Specialist in AK for Chugach Alaska Corporation

Institutional Consultant – Advisor Services in IL, IN, MI, OH, WI for Unified Trust Company, N.A.

Participant Services, Supervisor in PA for Ascensus

Marketing Assistant in FL for FiduciaryFirst

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Webcasts and Conferences

"Earned Income: Computing Compensation for the Self-employed" Web Seminar, An Encore Presentation
Nationwide on February 14, 2011 presented by SunGard Relius

"Would You Like Some Catch-up With Those Deferrals?" Web Seminar
Nationwide on March 1, 2011 presented by SunGard Relius

Helping Employees Retire Successfully: The Accumulator Group
Nationwide on March 17, 2011 presented by TRI-AD

Understanding Health FSA Reimbursements: A Seminar Based on Your Scenarios!
Nationwide on February 3, 2011 presented by EBIA / Thomson Reuters

US Department of Labor’s ERISA Advisory Council Teleconference
in District of Columbia on February 28, 2011 presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

Webinar: What Does The SEC’s Study on Fiduciary Standards Mean for Brokers and Investment Advisers Serving Retirement Plans?
Nationwide on February 16, 2011 presented by The SPARK Institute


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