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March 15, 2011 Retirement Plans Newsletter  |  Advertise  |  Unsubscribe  |  Past Issues

[Official Guidance]
Text of Notice of Proposed Amendment to Prohibited Transaction Exemption 2010-08 Involving Ford Motor Company
"The transactions involve the UAW Ford Retirees Medical Benefits Plan (the Ford VEBA Plan) and its funding vehicle, the UAW Retiree Medical Benefits Trust (the VEBA Trust) . . . . The proposed amendment, if granted, would affect the VEBA, and its participants and beneficiaries." (U.S. Employee Benefits Security Administration)


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[Official Guidance]
Multiple Employer Trust Was Not Fully Insured for Purposes of ERISA's MEWA Preemption Rule
"The rule allowing more limited state regulation of a fully insured MEWA is premised on the insurer being subject to full state regulation for the type of benefits insured under the policy (in this instance, group health benefits)." (EBIA Weekly Archives)

[Guidance Overview]
Seventh Circuit Upholds Denial of FMLA Leave to Employee Who Ignored Employer's Telephone Calls
"[I]t generally does not take much for an employee to preserve his rights under the FMLA; he must simply provide enough information 'to place the employer on notice of a probable basis for FMLA leave.'" (Employer Law Report)

[Guidance Overview]
Judge Grants Standing for ERISA Claims Challenging Overpayment Recovery Practices of Blue Cross Blue Shield
"The case [alleges the Blues' employ] abusive practices in using post-payment audits, repayment demands, and forced recoupments to recover substantial sums that have previously been paid as health benefits for services provided to BCBS subscribers." (chiroeco.com)

Text of H.R. 1004: ''Medical FSA Improvement Act of 2011' (PDF)
"To amend the Internal Revenue Code of 1986 to increase participation in medical flexible spending arrangements." (U.S. House of Representatives via American Benefits Council)


The World Congress Prevention and Wellness 2.0 Congress. (advert.)

Sponsored by World Congress

May 17 - 18, 2011 | Los Angeles, CA
Health Reform | Culture | Incentives | Innovation | Behavior Change | Economics


Company Will Bring Online Comparison-Shopping for a Doctor, Test or Procedure to Health Care Industry
"The company pulls together price data, consumer reviews and individual health-benefit information into one spot, with the goal of helping users make sensible, long-term, economical decisions." (The Wall Street Journal)

State and Local Governments Are Predominant Beneficiaries of Early Retiree Reinsurance Program
"The state and local government category - which includes states and subdivisions and organizations representing government employees (e.g., state universities) - received over 55 percent of the total $535 mil.lion reimbursement." (Deloitte via BenefitsLink.com)

EBSA to Host Online Forum on Automatic Enrollment in Large Employer Health Plans (PDF)
"Individuals and organizations may register to participate . . . and should indicate whether participation will be in-person or by teleconference." (U.S. Employee Benefits Security Administration)

California Controller Urges Pre-Funding of OPEB Obligations
"California State Controller John Chiang unveiled a new actuarial report that shows California faces a $59.9 bil.lion bill to pay for health and dental benefits for state retirees over the next 30 years." (PLANSPONSOR)

Consultants and Benefit Experts Say Reform Complicates Employers' Ability to Provide Full Health Benefits
"Monitoring the progress of health costs and mulling reform's positive and negative impacts on value-based and consumer-driven health designs is of immediate concern, speakers said." (Thompson)

New Battlefronts in the Fight Over Healthcare Reform
"'Repeal and replace' no longer fully captures the extent of Republican efforts to challenge the law as the battle moves to multiple fronts." (Morgan Lewis)

Summary of Early Retiree Reinsurance Program Annual Report for 2010
"As of December 31, 2010, over 5,000 plan sponsors were approved for participation in the program." (Faegre & Benson LLP)

GAO Report: Trends in Usual and Customary Prices for Commonly Used Prescription Drugs
"Prescription drug spending by the federal government, patients, and third-party payers, including employers, is driven by many factors, including the prices paid for drugs." (U.S. Government Accountability Office)

[Opinion]
American Benefits Council Comments on Nondiscrimination Rules for Insured Group Health Plans (PDF)
"The transition relief provided in Notice 2011-1 for the 2011 plan year should be extended at least through plan years beginning in 2013." (American Benefits Council)

Benefits in General; Executive Compensation

[Official Guidance]
Text of General Explanation of Tax Legislation Enacted in the 111th Congress
"The explanation follows the chronological order of the tax legislation as signed into law. For each provision, the document includes a description of present law, explanation of the provision, and effective date." (U.S. Congress Joint Committee on Taxation)

[Guidance Overview]
Restrictive New IRS Ruling Affects Tax-Free Exchanges of COLI
"Many companies have substantial amounts of corporate-owned life insurance . . . on their books. Typically, the policies were purchased to fund future liabilities for deferred compensation, retiree health or other significant corporate liabilities. When the policies do not perform as expected, companies may shop around for better ones." (Groom Law Group)

Lawmaker Seeks 10 Percent Pay Cut for Congress and White House
"Rep. Jaime Herrera Beutler, R-Wash., [ introduced a bill] that would cut lawmakers'salaries by 10 percent, effective in January 2013." (Government Executive)

Private-Sector Employees' Anger Over Perks for Government Jobs May Hit Pay, Pension
"Data from the U.S. Bureau of Labor Statistics confirms [that] public-sector workers enjoy better benefits but earn lower wages. Government, when compared with private business, spends about 1.7 times as much on health care per employee-hour worked and nearly twice as much on retirement." (BuffaloNews.com)

National Employee Benefits Day, April 4, 2011
"This year National Employee Benefits Day has a special focus on Communicating Employee Benefits. We encourage you to use the day to evaluate your current communication efforts and to take time to educate you employees on the valuable benefits you offer." (International Foundation of Employee Benefit Plans)

Benefits Outsourcing Is Not Just for Large Organizations (PDF)
"The outsourcing market has become more mature and now presents an attractive alternative to internal benefits administration, even for smaller firms. Not only has the cost comparison changed, but the increasing complexity, limited flexibility, and inherent risk of internal administration may also combine to make outsourcing a better option." (Milliman, Inc.)

Press Releases

Benefit Advisors Network Admits Three Firms as Newest Members
(Benefit Advisors Network)

US Labor Department Action Recovers Nearly $52,000 From Trustees of Premier Properties USA 401(k) Plan
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

US Labor Department Sues Trustee of Defunct Maine Company Employee Stock Ownership Plan to Restore Losses to the Plan
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

US Department of Labor Obtains Judgment Restoring $18,000 to Burnsville, Minn.-based Slate Cement's Health, Dental and 401(k) Plans
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

National Employee Benefits Day to Be Celebrated on April 4, 2011
(International Foundation of Employee Benefit Plans)

Firm Is Certified To Recordkeeping And Investment Advisor Best Practices
(Centre for Fiduciary Excellence (CEFEX))

Vision Care in the Workplace
(Pennsylvania Association for the Blind)


Employee Benefits Jobs

HR Communications Team Lead in TX for Milliman

ERISA Plan Specialist in MA for Sentinel Benefits and Financial Group

Non Profit Market Specialist-Eastern United States in MA for MassMutual

Account Executive II - Retirement Services in MA for Principal Financial Group

Senior Account Manager in GA for Bryant Wharton

Onsite Participant Counselor in NY for Diversified Investment Advisors, Inc.

Distribution Associate in MA for Sentinel Benefits and Financial Group

Plan Consultant in MA for Sentinel Benefits and Financial Group

Relationship Support Specialist in MA for Financial Engines

Post Your Job on EmployeeBenefitsJobs.com

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Webcasts and Conferences

Cafeteria Plan Election Changes: A Seminar Based on Your Scenarios
Nationwide on April 14, 2011 presented by EBIA / Thomson Reuters

CT NIPA: Fiduciary Definition Impact to Broker-Dealer, FINRA
in Connecticut on March 30, 2011 presented by National Institute of Pension Administrators-CT Chapter

Mid-Atlantic Benefits Conference
in Pennsylvania on May 5, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)

Webcast: 403(b) Plan Termination Guidance: Distributing & Managing Transactions In Orphan Accounts
in California on April 21, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)

Webcast: 408(b)(2) Update - Putting the Pieces Together
Nationwide on April 26, 2011 presented by National Institute of Pension Administrators

Webcast: Everything Old is New Again – Revisiting the Prohibited Transaction Rules
Nationwide on March 29, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)

Webcast: Form 5500 Update
Nationwide on May 17, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)

Webcast: IRS Corrections: How to Fix a Broken Plan
Nationwide on March 23, 2011 presented by National Institute of Pension Administrators

Webcast: Who is a Fiduciary under the New Proposed DOL Regulations?
Nationwide on April 12, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)


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