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

U.S. District Judge Issues Stay of His Earlier Ruling Finding Healthcare Reform Law Unconstitutional
"'A federal judge who declared President Barack Obama's health care overhaul unconstitutional ruled Thursday that states must continue implementing it while the case makes its way through the courts." (Henry J. Kaiser Family Foundation)


DATAIR Cafeteria Plan Software (advert.)

Sponsored by DATAIR Employee Benefit Systems, Inc.

PC-based systems for proposals, plan documents and administration of Flex Plans: FSA, DCAP, HRA, HSA and 132(f). DATAIR’s systems with the "Benny" Benefits Debit Card for automated processing and Internet inquiry makes this a profitable TPA service.


House Votes to Repeal Burdensome Health Law Tax-Reporting Requirements That Were Imposed on Small Businesses
"But no immediate relief for small business is in sight because the House and the Senate disagree on how to pay for the expected loss of revenue, more than $20 bil.lion over 10 years." (The New York Times; free registration required)

Blurry Definitions and Nebulous Language Cloud Pharmacy Benefit Contracts
"[The president of Pharmacy Benefit Consultants] lambasts the inclusion of nebulous language in contracts that blurs the definitions of brand and generic drugs. In some cases, generics are defined as 'multiple-source drugs,' leaving single-source generics to be redefined by default as brand drugs. 'Unless you write a contract that has definitions that pin down brand and generic and specialty drugs, then spread sheeting with consultants to figure out your savings is a useless exercise,' . . . ." (Atlantic Information Services, Inc.)

Hearing to be Held March 10 on 'The Pressures of Rising Costs on Employer Provided Health Care'
"The hearing will be held at 10:00 a.m. in room 2175. Witnesses to be announced." (U.S. House of Representatives Subcommittee on Health, Employment, Labor and Pensions)

Kalamazoo County, Michigan, Wellness Success Holds Premium Increases to Zero
"Even better, our dental and vision premiums actually dropped. So what's our secret? The key is a healthy employee population, thanks in large part to our wellness program." (Employee Benefit News; free registration required)


Complete Benefits Law Guidance from Law Journal Press (advert.)

Sponsored by ALM

The nation's workforce and health care system are constantly evolving and so are the legal issues. Law Journal Press helps you handle any benefits law question with up-to-date, authoritative books on all aspects of the field.


Pharmacists Fight the Rise of Mail Order for Long-Term Prescriptions
"Community pharmacists in New York are lobbying state lawmakers to pass legislation that would prevent health plans from requiring patients taking medications for chronic ailments to fill their prescriptions through the mail." (The New York Times; free registration required)

Top Companies Push Programs to Help Women in the Workplace
"Like many companies, PwC offers its employees job share options, sabbaticals (during which employees retain benefits) and flex-time schedules, which allow employees to scale back their hours by as much as 60 percent." (ABC News Internet Ventures)

New Site for Consumers on the Health Care Law
"The new site, called healthcareandyou.org, is intended to steer clear of the heated politics behind the legislation and focus instead on what the plan means for consumers." (The New York Times; free registration required)

[Opinion]
Fixing America's Health Care Reimbursement System
"Much responsibility for America's inequitable health care payment system and its cost crisis is embedded in the informal but symbiotic relationship between the Centers for Medicare and Medicaid Services and the American Medical Association's Relative Value System Update Committee -- also known as the RUC." (Henry J. Kaiser Family Foundation)

[Opinion]
Bad Time for Connecticut to Impose Mandatory Paid Sick Leave on Businesses
"The bill would require businesses with 50 or more employees to provide paid sick leave based on time worked." (Hartford Courant)

Benefits in General; Executive Compensation

[Guidance Overview]
Mandatory Shareholder Approval of Executive Compensation: SEC Releases Final Rules on 'Say on Pay'
"The required vote is an 'up' or 'down' vote on the compensation payable to all of a company's named executive officers as disclosed under Item 402 of Regulation S-K." (Littler Mendelson P.C.)

Los Angeles, California, Mayor Calls for Curbs in City Workers' Benefits
"Villaraigosa said he would also work to ensure that pensions of newly hired civilian employees do not exceed 75% of a worker's annual salary. Existing civilian workers can receive pensions equal to 100% of their salaries after working 46.3 years." (Los Angeles Times)

Offering Benefits Has Widespread Small Business Owner Backing
"Fifty-nine percent of small-business owners in a recent survey deemed offering health insurance to be important, while 47% consider it important to offer retirement benefits." (PLANSPONSOR.COM)

Bill Gates Says Benefits Costs Hit Schools
"Mr. Gates in an interview said he will use a high-profile conference Thursday in Long Beach, Calif., to urge that more attention be paid to how states calculate their employee-pension funding and health-care obligations." (The Wall Street Journal)

GOP Aims to Tame Benefits Programs
"House Speaker John Boehner said Thursday that he's determined to offer a budget this spring that curbs Social Security and Medicare, despite the political risks, and that Republicans will try to persuade voters that sacrifices are needed." (The Wall Street Journal)

The Forgotten Employee Benefit Crisis: Multiemployer Benefit Plans
"The article seeks to offer some internal, legislative, administrative, and judicial reforms with which to overcome the financial, legislative, and judicial challenges that these plans now face." (Social Science Research Network)

Benefits Issues to Watch in 112th Congress
"Oversight of the Pension Benefit Guaranty Corporation (PBGC) may receive legislative attention. The HELP Committee held a hearing 'PBGC: Is Stronger Management and Oversight Needed?' in December 2010." (Towers Watson)

ERISA Law Firm Reish & Reicher to Close March 15
"The partners in the employee benefits practices -- C. Frederick Reish, Leland J. Reicher, Bruce L Ashton, Mark Terman, Michael A. Vanic, Joseph C. Faucher and Pascal Benyamini -- plan to join law firm Drinker Biddle & Reath, along with five other R&R attorneys, on March 16, the statement said." (Pensions & Investments; free registration required)

Delta Air Lines Faces Charges of Union Bias in Profit-Sharing Distribution
"Flight attendants formerly of Delta Air Lines Inc. acquisition Northwest Airlines Corp. are suing their new parent, claiming they got lower profit-sharing checks because they previously belonged to a union, the Cincinnati Business Courier reports." (American City Business Journals, Inc.)

Press Releases

US Labor Department Obtains Court Judgment Against Executive Of Oklahoma Aircraft Manufacturer For Misuse Of Employee Benefit Plan Premiums
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Health Care Facility Operator Charged With Health Care Fraud, Mail Fraud And Aggravated Identity Theft
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Top Producer Joins Great-West Retirement Services In Michigan
(Great-West Retirement Services)

Prudential Research Finds Most New Pensioners Considering Working Beyond Retirement
(Prudential Financial, Inc.)

ADP Acquires AdvancedMD, A Leading Provider of Cloud-based Solutions for Practice Management, Electronic Health Records, and Revenue Cycle Management
(ADP)

Largest US Pension Plan Sponsors See Continued Improvement In Funded Status
(Mercer)

RPAG Acquires Cormier DCP Suite of Studies
(Retirement Plan Advisory Group)

Changes Are Afoot at Reish & Reicher
(Reish and Reicher)

USI Consulting Group Announces their 2011 Benefits in Focus Webcast Series
(USI Consulting Group)

Nearly 50 Percent of Employees Have Considered Leaving Their Current Jobs
(MarketTools, Inc.)


Employee Benefits Jobs

Senior Plan Consultant in TX for Scholz, Klein & Friends Enlightened Retirement Group, Inc.

Transaction Support Associate in CT for Prudential

Retirement Plan Consultant in KS, MO for One Ward Parkway Group / UBS

Participant Call Center Specialist in OH for Transamerica Retirement Services Corporation

Institutional Trust Sales in AZ, CA, NV for M&I

Client Service Manager in FL, NC, WI for The Newport Group

Paralegal / Senior Paralegal – HR Emphasis in CO for CoBank

Director of Pension Administration in CT for Pension Consultants, Inc.

Director, Program Management in NJ for Prudential

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