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March 9, 2011 Retirement Plans Newsletter  |  Advertise  |  Unsubscribe  |  Past Issues

[Guidance Overview]
Penalties for HIPAA Privacy Violations
"As evidenced in . . . two recent announcements, the increased penalty amounts and penalty tiers under HITECH and the interim final enforcement rule can quickly multiply into costly penalties." (Pepper Hamilton LLP)


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[Guidance Overview]
HHS Demands Payment for Violations of the HIPAA Privacy Rule (PDF)
"In light of the recent privacy breaches and HHS' enforcement actions, covered entities should be mindful of the following policies and regulations . . . ." (Drinker Biddle & Reath LLP)

[Guidance Overview]
Eighth Circuit Holds Mental Health Treatment Limitation Inapplicable to Benefits Denial
"This recent opinion by the Eighth Circuit Court of Appeals revisits the standard of review for judicial review of benefit denials in that Circuit." (Roy Harmon III via Health Plan Law)

[Guidance Overview]
FLSA Lactation-Break Comments Urge Expansive Approach
"Several commenters continue to suggest or insinuate that lactation breaks of 20 minutes' duration or less must be treated as worktime under the FLSA. Their positions overgeneralize an already loosely-worded DOL interpretation from 1940 that '[r]est periods of short duration, running from 5 minutes to about 20 minutes,' must be counted as worktime." (Fisher & Phillips LLP)

Misconceptions about Health Insurance Markets and Health Reform (PDF)
"Several myths about health insurance pervaded the health reform debate and interfered with plans for implementation. Many are built on a kernel of truth, but the simplification of complicated issues can lead to conclusions that are misleading, or just wrong." (TIAA-CREF Institute)


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CMS Releases Consumer Disclosure Notices for Health Premium Rate Increases
"The notices provide some basic information about insurance rate increases and their review, and then detailed information about the specific increase that your insurer has proposed. They also provide what the insurance company believes is driving the increase in premiums, and how much of the increase is going to profit and administrative expenses." (International Foundation of Employee Benefit Plans)

Workplace Flexibility Programs Tend to Be Informal, Without Written Policies or Forms
"Nearly all employers offer some type of workplace-flexibility program, but few train employees on how to successfully utilize such initiatives or managers on how to successfully work with employees who have flexible schedules. Too often, workers fear asking for flexibility, experts say." (Human Resource Executive Online)

Health Savings Accounts Surpassed $10 Bil.lion at Year-End 2010
"The survey found the top five custodians hold over $4.4 bil.lion in HSA assets amongst almost 2.7 mil.lion accounts, accounting for 44% of all HSA assets." (PLANSPONSOR.COM)

Health Care Reform Update, March 6, 2011 (PDF)
Read this week's update on health care reform legislation, regulations, and initiatives. (Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.)

Top 10 Actuarial Issues for a Health Exchange (PDF)
"In order to create a financially self-supporting healthcare exchange, a state needs to make a number of critical decisions, such as whether to make the exchange mandatory or voluntary and whether to merge the individual and small group markets. Each state will need to address its own priorities based on its own specific situation and healthcare environment." (Milliman, Inc.)

Audio: Breaking Down the Basics of Medical Travel
"Listen in as Chicago lawyer Kevin Ryan discusses the state of international medical tourism: How regulations and perceptions are affecting the industry and why education is the key to a successful program." (Employee Benefit News; free registration required)

Healthy Lifestyle Habits Can Lead to Better Workplace Productivity
"Healthy employees are more successful and of greater benefit to a corporation, not to mention happier and often less costly in terms of health care." (Chicago Tribune)

Benefits in General; Executive Compensation

[Guidance Overview]
Top-Hat Plan Participants Lose Benefits After Sale of Company
"[W]hen a company purchases just the assets of another company, as happened in this case, the buyer assumes only those obligations and liabilities (e.g., non-qualified plans) that it explicitly agreed to acquire." (Michael S. Melbinger via Winston & Strawn LLP)

[Guidance Overview]
When Is Federal Common Law Appropriate to Determine Domestic Partner Status?
"The Sixth Circuit noted that, although courts do sometimes resort to federal common law to identify beneficiaries under ERISA plans, the text of the plan is the much preferred source." (Tax Management Inc.)

Federal Pay and Benefits Back in Spotlight
"The Republican-led House is scheduled to hold its first hearing [today] on the compensation of federal employees, pitting the Obama administration and federal worker union leaders against conservative fiscal experts armed with detailed reports suggesting federal employees are paid too generously when compared to private sector workers." (The Washington Post; free registration required)

Employee Benefits Developments, March 2011
"In this issue: SEC adopts final say-on-pay rules; IRS increases user fees for determination letters and other rulings; and cases involving ESOPs, a top hat plan, ERISA Section 510, a 401(k) plan, safe harbor, third-party administrators, and more." (Hodgson Russ LLP)

Seventy-Eight Percent of Employers Say Employees Are Happy With Benefits
"The survey also found that 60% of employers said their organization provides employees with an annual summary of benefit program features." (PLANSPONSOR.COM)

Key Considerations for Selecting Service Providers (PDF)
"This article discusses each benefit area's administration developments and the corresponding advantages of choosing a best-in-class versus single provider approach. The authors offer guidelines and tips employers can use in order to take advantage of the benefits offered by both approaches." (International Society of Certified Employee Benefit Specialists)

Press Releases

Evolving Landscape of DC Plans Subject of PSCA's Midwest Regional Conference
(Profit Sharing/401(k) Council of America (PSCA))

US Department Of Labor Announces Extension Of Public Hearing Record On Proposed Regulation On Definition Of Fiduciary
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

US Labor Department Sues Wisconsin-Based Coin Builders LLC And President To Recover More Than $1.3 Million For Company’s Profit-Sharing Plan
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Employee Benefit Producer Training Program Moves Fall Offering to Fort Worth, Texas
(International Foundation of Employee Benefit Plans)

Thomson Reuters Selects HighRoads Procurement Service to Automate Its Pharmacy Benefit Management Business
(HighRoads, Inc.)

BrightScope and John Scott to Host 2011 Phoenix 401k Evaluation Summit
(BrightScope)

BASE® Reports Proven Savings Method to Combat Soaring Health Costs
(BASE)

Sieena to Showcase 365Kin, Its Employee Self-Service Portal During the 2011 HR Star Conference
(Sieena)


Employee Benefits Jobs

Retirement Plan Service Specialist in NH for Retirement Alliance, Inc

Workplace Regional Sales Manager in CA for Fidelity Investments

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Webcasts and Conferences

401(k) Rekon Advisor Symposium- Detroit
in Michigan on April 7, 2011 presented by 401(k) Rekon


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David Rhett Baker, J.D., Editor and Publisher
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